CDA Sells 5 Prime Commercial Plots for Rs4.75b in Auction

Islamabad: Commercial plots were successfully auctioned off over the course of three days on Monday under the direction of the Capital Development Authority (CDA).

The highest offers for five commercial plots totalling Rs4.75 billion were accepted on the first day of the auction by the committee headed by Member Finance.

In F-7 Markaz, a commercial land measuring 700 square yards sold for Rs1.7 billion. Similar to the above, a commercial plot measuring 666.66 square yards in I-8 Markaz received the highest price of Rs1.3 billion.

The highest offer, for Rs. 890 million and 711.11 square yards in D-12 Markaz, was also accepted by the auction committee.

A 1227.76 square yard plot in G-9/2 intended for a gas station brought in Rs 845 million, while a 177.77 square yard commercial site in Markaz G-10 garnered the highest bid of Rs 273 million.

The CDA Board must provide its permission before accepting the highest offers accepted by the auction committee. Member Planning, Deputy Financial Advisor, Directors of Urban Planning, Estate Management Commercial, and Director Finance are also members of the auction committee.

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