Islamabad: The Capital Development Authority (CDA) successfully concluded its two-day auction on Friday (July 21), surpassing an impressive milestone of PKR 3.82 billion through the sale of 18 plots, as reported by news sources.
The auction featured commercial plots in the “Capital Street Islamabad,” a new CDA project sprawling across 27 acres near Shakarparian and adjacent to the Pak-China Friendship Centre. Drawing inspiration from renowned locations like JBR Dubai, City Walk Dubai, and Nizami Street Baku, the project aims to establish a vibrant commercial hub in the nation’s capital.
The said auction offered 20 plots, each measuring 500 square yards, earmarked for cafes, restaurants, bistros, and other eateries. An array of investors, including national and international food chains, restaurants, bistros, and individuals from the food and beverage industry, actively participated in the bidding process, resulting in the successful sale of 18 plots for a substantial sum of PKR 3.82 billion.
A dedicated committee, operating under the supervision of the CDA’s member finance, meticulously oversaw the auction process. All received bids will undergo rigorous scrutiny before being presented to the authority’s board. The board, acting as the competent authority, will then impartially accept or reject the bids, ensuring a fair and transparent allocation process for the plots in ‘Capital Street Islamabad.’
As a graduate in English Literature, Zohaib believes that words are not just a mere figment of imagination. It takes wisdom to be good at them. Following this reason, he is pursuing his career as Public Relations and Content Specialist at Zameen.com.
