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ISLAMABAD, Jul 17 (APP):The Capital Development Authority (CDA) wrapped up its record-breaking three-day open auction of commercial plots on Thursday, generating an impressive Rs19.56 billion through the sale of eight plots and four shops.
The high turnout and aggressive bidding highlighted investor confidence in Islamabad’s growing commercial potential.
Chairman CDA and Chief Commissioner Islamabad Muhammad Ali Randhawa personally supervised the auction process, ensuring transparency and strong oversight.
Speaking about the success of the event, Randhawa said, “The overwhelming response from investors demonstrates their trust in CDA’s transparent auction process and Islamabad’s promising investment climate.”
The final day of the auction saw keen investor interest in retail spaces at the Blue Area Parking Plaza, where shop No. 8A fetched Rs145.7 million, 10A went for Rs143.2 million, 12A sold at Rs146.7 million, and 8C closed at Rs94.3 million.
Earlier, on the second day of the auction, Plot No. 20 in Sector I-14 Markaz, designated for a petrol pump, was sold for Rs1.64 billion, while Plot No. 1-E in Sector F-11/1 fetched Rs251.3 million.
Day one brought some of the most lucrative sales, Plot No. 13 in Blue Area (G-8) was auctioned for approximately Rs7.24 billion. Plot No. 14 for Rs4.16 billion, and Plot No. 12 for Rs3.60 billion.
Additional sales in Sector I-14 included Plot 3-A at Rs749.32 million, Plot 3B at Rs709.32 million, and Plot 10A at Rs669.32 million.
CDA officials highlighted that a wide range of commercial plots and shops were made available across various categories, with all bids processed through an open and transparent mechanism.
The auction was closely monitored by senior CDA officials, including Member Estate Talat Mehmood, Member Finance Tahir Naeem, Member Engineering Syed Nafasat Raza, and Member Planning Dr. Khalid Hafeez.
To attract and inform investors, CDA also hosted an Investment Expo at the Jinnah Convention Centre.
Information booths from the Environment Wing, MCI, and the Sports and Culture Directorate were set up to provide guidance. Randhawa directed that every possible facility be extended to the business community.
In a move to incentivize swift investment, CDA is offering a 5% discount on full payments made within one month, with an additional 5% discount for lump-sum payments in US dollars.
“The revenue generated from this auction will be utilized for Islamabad’s development,” said Randhawa. “This includes infrastructure upgrades, road improvements, and urban beautification to transform Islamabad into a modern, model capital.”