Islamabad: The Capital Development Authority (CDA) has received PKR 3.5 billion on the first day of its three-day auction of commercial plots, according to a news source. It collected the said amount through the auction of five commercial plots out of the total 28 commercial plots on sale.
The CDA is expecting to earn around PKR five to eight billion in this three-day auction, which is being held at Jinnah Convention Centre. Mazhar Hussain, a spokesman for the CDA, revealed this information and also stated that the bidding had been very enthusiastic. He added that this amount will be used to develop the city.
Previously in July, the civic body had auctioned off 12 plots in Blue Area for over PKR 17 billion. Now, its focus is on commercial plots situated in Blue Area, I-8 Markaz, Diplomatic Enclave, F-10 Markaz, G-10 Markaz, and Industrial Triangle Kahuta. In addition, various Class III shopping centres have also been selected for auction in Sectors G-9/1, G-9/2, G-10/3, G-11/4, and I-11/4.
