CDA earns PKR 2.815 bn on second day of plot auction

Islamabad: The Capital Development Authority (CDA), during the second day of its biannual auction event which began on Tuesday, earned PKR 2.815 billion through the bidding of eight commercial plots, according to news sources. As per details, the event is set to conclude today (October 24).

According to officials, this year’s auction witnessed an impressive crowd and was conducted in a transparent manner. The proceeding of the auction was supervised by a high-level auction committee that was led by the authority’s member estate.

Read: Seventh Avenue to be presented before CDA DWP in next meeting

The details of the plots auctioned are as follows:

Markaz G-9: Plot no 40-B (733.33 sq yds); received a bid of PKR 500,000 per sq yd

Markaz G-9: Plot no 31-B (205.55 sq yds); received a bid of PKR 1,170,000 per sq yd

Markaz G-10: Plot no 23-B (333.33 sq yds); received a bid of PKR 1.050,000 per sq yd

Markaz D-12: Plot no 13 (711.11 sq yds); received a bid of PKR 530,000 per sq yd

Markaz D-12: Plot no 13-A (711.11 sq yds); received a bid of PKR 480,000 per sq yd

Markaz I-8: Plot no 27 (1,111.11 sq yds); received a bid of PKR 805,000 per sq yd

Sector F-11/2: Plot no 10 (1,066.66 sq yds); received a bid of PKR 122,000 per sq yd

Park Enclave: Plot no 32 (266.66 sq yds); received a bid of PKR 431,000 per sq yd

Read: CDA expedites Sector D-12 uplift project

The income generated through the auction of commercial plots in 2019 will be utilised to develop various sectors in Islamabad. Moreover, the rise in bidding amounts on day two was associated with peoples’ trust in the department policies. The committee spearheading the auction will present its recommendations before the CDA board for final approval.