The Capital Development Authority (CDA) successfully concluded a three-day public auction of residential and commercial plots in Islamabad, generating over Rs17 billion in revenue. A large number of investors participated, particularly on the final day.
According to details, plots of various categories were sold for a total of Rs17.002 billion during the auction process. On the last day alone, 10 different categories of plots were auctioned off, fetching Rs2.193 billion.
CDA Chairman Ali Randhawa witnessed the auction process on the final day and expressed satisfaction with it. He said the enthusiastic participation of investors was a clear manifestation of their trust in CDA’s policies, adding that gaining and maintaining investor confidence remains one of the authority’s top priorities.
Among the notable sales, Plot No. 517 in Sector G-10/2 was auctioned off for Rs100.44 million, while several other plots in the same sector fetched bids ranging from Rs91.90 million to Rs94.04 million. High-value commercial plots on Murree Road in the Orchard Scheme also drew significant interest, with Plot No. 9 sold for Rs712 million and Plot No. A-9 fetching Rs732 million.
The CDA chairman thanked all investors for their participation and stated that the proceeds from the auction would be used to improve civic facilities for all citizens, including investors. He emphasized that CDA and investors are partners in the construction and development of Islamabad and assured that further institutional improvements would be made in light of suggestions from the business community.
On the chairman’s instructions, the auction process was supervised by Member Finance Tahir Naeem and an auction committee formed under his leadership. The committee made effective arrangements to ensure transparency and competitiveness throughout the process. The CDA chairman congratulated the committee for conducting a successful and transparent auction.
He directed the provision of various concessions and facilities to investors under investor-friendly measures. The bids received will now be presented before the CDA Board after thorough scrutiny, where the board will be authorized to approve or reject them in accordance with the rules.