Islamabad: The Capital Development Authority (CDA) has successfully generated PKR 10.94 billion in two days of its ongoing auction by selling eight plots, according to news published on October 19. Reportedly, the auction will continue till October 20 at the Jinnah Convention Centre in Islamabad.
As per the provided information, on the second day of the auction, Plot Number 1, covering an area of 355.55 square yards in Sector G-6/1-1, fetched a total of PKR 602 million in the auction. Similarly, Plot Number N-1, spanning 1,066.66 square yards and situated in Sector E-11, was successfully auctioned for a significant sum of PKR 1.24 billion. On the same day of the auction, a hostel plot measuring 1,111.11 square yards in Sector G-7/3 was sold for PKR 706 million, while another hostel plot of the same size located in Sector G-9/4 was acquired for PKR 604 million.
This four-day auction event offers a diverse range of residential and commercial plots in various categories for prospective investors. The auction encompasses plots in various central locations, including Marakaz, Blue Area, and the E-11 Northern Strip. Investors have the opportunity to bid on Park Enclave Commercial properties, Class III shopping centres, agro farms, apartments, and industrial plots. Furthermore, there are plots allocated for fruit and vegetable shops, meat markets, and I-11 market plots available for auction. Notably, this auction marks the first instance where plots designated for hostels are being offered. Upon a thorough review of the received bids, the auction committee, headed by Member Estate, will present them to the CDA Board, the authoritative body responsible for accepting or rejecting the bids.
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