Five-star hotel site will be included in the upcoming auction by CDA

Islamabad: According to a news source on November 2, the Capital Development Authority (CDA) is scheduled to hold another sale on November 2. This auction will concentrate on commercial plots, including a prime four-acre site designated for a possible five-star hotel.
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Details show that in the last auction, the CDA raised PKR 12.9 billion by selling nine commercial plots, two residential plots, and fourteen half-marla plots. On Wednesday, CDA Chairman Anwarul Haq chaired a meeting at the CDA conference room. The estate wing was instructed to compile a list of available commercial plots during the conference. There are about fifty commercial plots available in different sizes; however, the decision was made to shortlist and sell up to twenty-five plots.
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The sale of a prime four-acre property near the Marriot Hotel, intended for the construction of a five-star hotel, was one of the important themes discussed. This parcel is quite valued because of its advantageous position. To proceed with the transaction, the CDA needs consent from the government. The attendees at the conference made the decision to take the issue up with the federal government. The CDA will auction off a block of land owned by one of the hotels next month, provided they receive consent.