CDA announces Capital (food) Street plot auction date Islamabad
On July 12, a news outlet stated that the Capital Development Authority (CDA) of Islamabad had announced the dates for an open auction of 1-kanal plots designated for eateries, cafes, and restaurants in the upcoming Capital Street Islamabad development in Shakarparian.
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The public auction is set for the 20th and 21st of July at the Jinnah Convention Centre in Islamabad, and each of the 20 plots is 500 square yards in size. Businesses in the food industry that are in good standing with the proper authorities may participate in the public auction. In addition, food companies from all over the world are welcome to participate when they have completed the appropriate procedures.
Additionally, the CDA is providing a 5% discount for payments made in USD and a 10% discount if made within a month of the auction.
Starting today, interested parties can pick up information packets at the CDA Facilitation Centre, Estate Management II. The booklets are also available on the CDA’s main website. The CDA has implemented a number of unique program to entice investors:
- The revitalization of the neighborhood has been allotted a budget of PKR 1 billion.
- Development of local infrastructure and other necessities will be bolstered throughout the following six months.
- Prorated tax payments in advance will be withheld.
- Within 30 days after the bid approval, 25% must be paid.
- One-third of the field space will be set aside for creative pursuits.
- The project will increase walkability through the addition of pedestrian boulevards and streets.
