Islamabad: The Capital Development Authority (CDA) has fetched PKR 41 billion—the highest ever figure—by auctioning off 42 plots in the city, news sources reported on January 27.
During the convention held here in Jinnah Convention Centre (JCC) Islamabad, the authority succeeded in breaking its own record from when it generated PKR 37 billion during the auction held in 2021 under the amnesty scheme. In the latest auction, the authority sold plots of various sizes for parking lots, multi-storey highrises, apartment complexes and shopping malls in various parts of the city. Speaking to the media, an official said that the response to the auction event has been overwhelming and was made possible by the joint efforts of planning and finance wings for advertising the plots most effectively.
Read: CDA bags PKR 22.11 bn on 1st day its 3-day auctionIt is important to note that the CDA received one of the highest bids for a 5,000 sq yr plot which exceeded PKR 8 billion. Initially, the CDA had estimated to fetch PKR 20 billion from the three-day event. Auctioning off of various plots is the sole revenue source for the CDA which is an independent development agency managing federal capital. The proceeds of the auction will be used for various civic infrastructure projects in the city including roads and housing.
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