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CDA earns PKR 8.4 billion by auctioning off plots - Zameen News

CDA earns PKR 8.4 billion by auctioning off plots

December 16, 2016 • news

Islamabad: The Capital Development Authority (CDA) has earned PKR 8.4 billion by auctioning off 15 commercial plots.

According to a news source, the auction was held on December 13 and 14, 2016. Reportedly, the CDA is heavily dependent on the money fetched through plot auctions to run its day-to-day operations.

The CDA has termed this particular auction highly successful, as it sold 15 commercial plots out of 35 at prime locations in the federal capital.

The civic authority will receive payments from the successful bidders within one year. The CDA chairman told reporters that with such successful auctions, the authority is gradually getting back on track.