Islamabad: The Capital Development Authority (CDA) successfully raised approximately PKR 11 billion on the first day of its commercial plot auction, selling five plots, according to a news article on October 2.
Based on the details shared, the event saw strong investor participation and competitive bidding throughout the day. CDA Chairman Muhammad Ali Randhawa expressed satisfaction with the turnout, stating that investor interest reflects confidence in CDA’s initiatives.
Notable sales included Plot No. 13-G in F-8 Markaz for PKR 1.22 billion and Plot No. 16-D in F-8 Markaz for PKR 1.24. Plot No. 4-D in G-8 Markaz sold for PKR 598.3 million, Plot No. 10 in Blue Area G-8 fetched PKR 5.35 billion, and Plot No. I-B in the I-8 Centre was sold for PKR 2.5 billion.
The auction includes various commercial plots located in well-developed areas of Islamabad, providing investment opportunities for motels, apartments, and Class III shopping centres. The process is overseen by a committee led by CDA Member Finance Tahir Naeem, along with the Director of Estate Management-II, Tabinda Tariq.
The auction will continue on October 2 and 3, 2024, at the Gandhara Citizen Club, F-9 Park, Islamabad. All bids will be thoroughly reviewed before being presented to the CDA Board for final approval. Incentives offered to investors include an extended payment plan of two years, building plan approval upon 25% payment, and possession after 75% payment. Additional discounts of 10% are available for full upfront payments, with a further 5% discount for payments made in USDs.
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