ISLAMABAD:The three-day auction of commercial plots held under the aegis of the Capital Development Authority (CDA) received an overwhelming response on the second day as 10 commercial plots were auctioned at Rs 13.75 on Tuesday.
The auction – held under the supervision of CDA’s Member Finance here at the Convention Center – has so earned Rs 18.5 billion while accepting the bids of successful bidders, said a press release.
On the first day, the highest bid worth Rs 1.7 billion was received for a commercial plot of 700 square meters located at F-7 Markaz, followed by another plot 666.66 square meter plot at I-8 Markaz sold for Rs 1.3 billion.
Meanwhile, a plot of 177.77 square meters at G-10 Markaz and another of 711.11 square meters plot in the D-12 sector were sold at Rs 273 million and 890 million, respectively.
A commercial land of 1227.76 square meters at G-9/2 Markaz for a petrol pump sold for 845 million.
According to the press release, the auction committee has made effective arrangements to ensure transparency and competitiveness. As a result, investors are actively participating in the bidding process and acquiring plots according to their preferences.
It added that after undergoing meticulous scrutiny, the received bids would be presented before the CDA Board, which serves as the competent authority to accept or reject the bids.