In two days, CDA’s ISB auction raises PKR 10.94 billion

Islamabad: According to news reported on October 19, the Capital Development Authority (CDA) has successfully raised PKR 10.94 billion in two days of its ongoing auction by selling eight plots. According to reports, the auction will go on until October 20 at Islamabad’s Jinnah Convention Centre.

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According to the information presented, Plot Number 1, which has a 355.55 square yard area and is located in Sector G-6/1-1, sold for a total of PKR 602 million on the second day of the auction. Similar to Plot Number N-2, Sector E-11’s 1,066.66 square yard Plot Number N-1 was also successfully auctioned off for a sizeable price of PKR 1.24 billion. A hostel property with a 1,111.11 square yard size in Sector G-7/3 sold for PKR 706 million on the same day of the auction, while a hostel plot with a similar size in Sector G-9/4 was purchased for PKR 604 million.

Prospective investors can choose from a wide selection of residential and business plots in a variety of categories during this four-day auction event. Plots in a number of central sites, including Marakaz, Blue Area, and the E-11 Northern Strip, are included in the auction. Investors can submit bids for commercial real estate in Park Enclave, Class III shopping malls, agro farms, residential homes, and industrial lots. Additionally, there are lots designated for I-11 market plots, meat markets, and fruit and vegetable businesses that are up for auction. Notably, this auction is the first time that hostel-designated sites have been put up for sale. The auction committee, led by Member Estate, will carefully analyse all submitted offers before submitting them to the CDA Board, the decision-making authority, for approval or rejection.