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.
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.
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.