The Capital Development Authority (CDA) has generated Rs16.44 billion during the first two days of its three-day public auction of commercial plots in Islamabad, reflecting strong investor confidence in the federal capital's real estate sector. The auction, being held at the Jinnah Convention Center, attracted significant participation from investors seeking commercial and agricultural properties.
Key Highlights
- CDA raised Rs16.44 billion from commercial plot sales during the first two days of the auction.
- Plots worth Rs13.81 billion were sold on the first day, while the second day generated Rs2.63 billion in successful bids.
- Agro Farm No. 18 on Murree Road was auctioned for Rs1.212 billion.
- Agro Farm No. 17-A on Murree Road fetched Rs966 million.
- Constructed Shop No. 8-A in the Blue Area Parking Plaza was sold for Rs151.66 million.
- Shop No. 10-A in the Blue Area Parking Plaza was auctioned for Rs147.71 million.
- Constructed Shop No. 12-A in the Blue Area Parking Plaza secured a bid of Rs153.63 million.
- The three-day commercial plot auction continues on August 6 at the Jinnah Convention Center, Islamabad.
- CDA described the auction as a major investment opportunity for individuals and businesses interested in Islamabad's growing commercial real estate market.
Revenue to Fund Islamabad's Development
Chairman of the Auction Committee, Muhammad Umair, said the revenue generated from the auction will be utilized to improve Islamabad's infrastructure, accelerate mega development projects, enhance civic services, resolve long-standing public issues, and address the city's water supply challenges.
He also appreciated the strong participation of investors, reaffirming the CDA's commitment to promoting sustainable urban development, modern infrastructure, and improved public facilities across the federal capital.
Approval Process
All bids received during the auction will undergo a detailed scrutiny process before being presented to the CDA Board, which holds the authority to approve or reject the bids in accordance with established regulations.
The successful auction highlights the growing demand for commercial investment opportunities in Islamabad and reinforces investor confidence in the city's expanding real estate market.
