Islamabad: The Capital Development Authority (CDA) on Thursday (August 5) raised PKR 37.945 billion during the two-day auction of 24 commercial plots in the federal capital’s business areas, nearly double the estimated amount of PKR 20 billion, news sources reported.
As per the details, the CDA received bids of PKR 17.5 billion for 11 plots on the second day of the auction. While it received PKR 20 billion offers for 13 plots on the first day of the auction. The highest offer was received for a 7,000 square-yard plot in the Blue Area, which was sold for PKR 8.79 billion, the highest in the CDA auction’s history.
Furthermore, another plot in Blue Area and Diplomatic Enclaves received a bid of PKR 3.35 billion and 1.64 billion respectively. The highest bids received, according to CDA Chairman Amir Ali Ahmad, will be accepted by the auction committee, and the revenue generated thus far will be used to fund development projects, specifically the rehabilitation and construction of Sector I-12, which has been put on hold for quite some time.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
