Islamabad: The Capital Development Authority (CDA) is set to conduct another auction, focusing on commercial plots, including a prime four-acre plot earmarked for a potential five-star hotel, a news source reported on November 2. Read: Steel rebar prices experience hike due to uncertain supply scenario
According to the details, the CDA managed to sell nine commercial plots, two residential plots, and 14 half-marla plots, generating PKR 12.9 billion in the previous auction. CDA Chairman Anwarul Haq presided over a meeting at the CDA conference room on Wednesday. During the meeting, the estate wing was directed to prepare an inventory of available commercial plots. Although approximately 50 commercial plots of various sizes are available, the decision was made to shortlist and auction up to 25 plots. Read: FBR assures continuation of PKR 50,000 monthly income tax exemptions
Among the significant topics discussed was the sale of a prime four-acre plot for the construction of a five-star hotel, located near the Marriot Hotel. This plot’s strategic location makes it highly valuable. However, the CDA requires government permission to proceed with the sale. The meeting participants decided to pursue the matter with the federal government, and upon receiving approval, the CDA plans to auction one of the hotels’ plots next month.
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