Islamabad: On the first day of a two-day auction, the Capital Development Authority (CDA) got an overwhelming reaction from investors when it auctioned 13 commercial plots valued over Rs. 20 billion on Wednesday.

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The CDA has placed 29 properties up for auction, with all 13 plots being successfully auctioned on the first day at Jinnah Convention Centre. The authority had projected a Rs20 billion revenue from the two-day auction in its annual budget for the current fiscal year 2021-22, but it met that objective on the first day.

Four commercial plots in I-8, two plots in G-10 Markaz, a plot in F-11 Markaz, two in I-12 Markaz, and four plots in Blue Area were auctioned on the first day, according to information. Commercial plots up for sale include commercial/shopping centre plots, as well as plots for hospitals, gas stations, hotels, residences, and retail centres.

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Officials from the CDA claimed that until 2019, the civic body’s auctions netted less than Rs10 billion; however, in 2019, it netted Rs. 11 billion, followed by the record sale of last year, which netted Rs27 billion in plots.

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