Islamabad: The Capital Development Authority’s (CDA) three-day property auction generated expected proceeds of PKR 16.44 billion, with successful bids received for commercial plots, agro farm plots and shops during the first two days of the exercise.
According to the CDA, the auction committee sold six commercial plots on the opening day, followed by two agro farm plots and three shops in the Blue Area Parking Plaza on the second day. No bids meeting the authority’s expectations were received on the third and final day. The highest bids accepted during the auction are subject to approval by the CDA Board.
Overall, six commercial plots located in Blue Area, I-9 Markaz, G-6 and Aabpara Market generated PKR 13.80 billion. In addition, two agro farm plots and three shops in the Blue Area Parking Plaza fetched approximately PKR 2.64 billion, taking the total expected proceeds to PKR 16.44 billion.
According to the auction brochure, the CDA had offered 28 properties, including 21 commercial plots, two agro farm plots, three apartment plots and two petrol pump plots, along with nine shops in the Blue Area Parking Plaza. Of these, six commercial plots, two agro farm plots and three shops were successfully auctioned.
According to the authority, some properties did not receive bids, while offers submitted for others were below the auction committee’s expectations. Some of these properties were re-offered during the auction but did not attract acceptable bids.
A CDA official said generating PKR 16.44 billion through the auction was a significant achievement despite the selective outcome, adding that the remaining properties could be offered in future auction rounds.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
