Islamabad: The Capital Development Authority (CDA) generated PKR 13.52 billion on the first day of its three-day auction of residential and commercial plots in Islamabad, officials said.
The auction, held at the Jinnah Convention Centre, was supervised by Member Finance Tahir Naeem and an auction committee under his chairmanship, following directions from CDA Chairman and Chief Commissioner Islamabad Muhammad Ali Randhawa.
Two high-value commercial plots in the Blue Area attracted the largest bids. The auctioned plots and their revenues are as follows:
Plot No. 37-C, Orchards Scheme, Murree Road – PKR 422 million
Plot No. 37-D, Orchards Scheme, Murree Road – PKR 420 million
Chairman CDA Muhammad Ali Randhawa said the strong participation of investors reflected confidence in CDA policies, noting that strengthening investor trust remained a priority for the authority.
The auction will continue until December 24, offering a mix of residential and commercial plots, including properties in various centers, the E-11 Northern Strip, agro farms, petrol pumps, constructed shops in the Blue Area, and residential plots in multiple sectors.
To encourage participation, CDA introduced several incentives, including a 5 percent additional discount on commercial plot payments made in US dollars and a 5 percent discount for lump-sum payments within 30 days of bid approval. Building plan approval will be granted after an initial 25 percent payment, with possession handed over upon 75 percent payment.
All received bids will be submitted to the CDA Board for approval or rejection after detailed scrutiny.
The CDA chairman said revenue from the auction would be used for construction, development, and beautification projects across Islamabad, aimed at improving urban infrastructure and public amenities.
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