CDA sets historic record, earns over Rs17b in single-day plot auction

The Capital Development Authority (CDA) has set a new record by earning more than Rs17.14 billion in a single day through the auction of just six commercial plots, marking the highest-ever revenue generated in one day in the authority's history.

According to CDA Chairman Muhammad Ali Randhawa, the overwhelming investor response on the first day of the multi-day auction reflects growing confidence in Islamabad’s real estate market.

“We still have two days to go, and investor participation is exceeding expectations,” he noted.

Among the top-selling plots, Plot No. 13 in Blue Area fetched the highest bid, going for over Rs7.21 billion, followed by Plot No. 14, which was sold for Rs4.16 billion, and Plot No. 12, which brought in more than Rs3.66 billion. In Islamabad’s I-14 Markaz, Plot No. 3-B was sold for over Rs709 million, Plot No. 10-A for more than Rs669 million, and another plot for Rs749 million.

Chairman Randhawa stated that all revenue generated from the auction will be reinvested in the beautification and development of Islamabad, including infrastructure improvements and public services.

The record-breaking auction has not only injected substantial funds into the CDA's coffers but has also reinforced investor interest in the capital city’s commercial property sector.