After four days, CDA's auction ends with a PKR 12.9 billion profit

After four days, CDA’s auction ends with a PKR 12.9 billion profit

According to a news source on October 21, Islamabad’s Capital Development Authority (CDA) successfully concluded its four-day plot auction on Friday (October 20), capping off a successful event that netted the civic organization PKR 12.9 billion.

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According to the information provided, the auction included a wide variety of residential and commercial plots, and the CDA was able to sell 25 of them for an outstanding sum of PKR 12.90 billion. According to a CDA announcement, plots particularly earmarked for meat, vegetable, and fruit businesses, each measuring 16.67 square yards, were auctioned off on the final day. Plots 4 and 5 in sector F-8/4, which sold for PKR 43.52 million and PKR 45.19 million respectively, were notable deals.

Additionally, bids of PKR 19.67 million, PKR 20.34 million, and PKR 29.42 million were made for the fruit, vegetable, and meat shop plots #1, #2, and 3. Residential plots were also in strong demand, with plots 1 and 6 fetching outstanding prices of PKR 183 million and 255 million, respectively. Additionally, the Blue Area’s commercial plot #7, which is 611.11 square yards in size, was successfully auctioned off for a staggering PKR 1.033 billion.

A committee led by the Member Estate diligently oversaw the entire auction procedure. The committee received accolades from the CDA Chairman for retaining transparency throughout the proceedings and guaranteeing a level playing field for all participants.

The CDA Board will then conduct a thorough examination of all the submitted bids and function as the competent forum to accept or reject them, concluding this significant transaction in the centre of Islamabad.

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