ISLAMABAD:The investors are demonstrating a strong interest in the auction of residential and commercial plots of diverse-sized residential and commercial plots in Islamabad organized by Capital Development Authority (CDA).
The four-day open auction of residential and commercial plots of various sizes and categories is set to run until October 20 here at the Jinnah Convention Centre.
The primary objectives are to increase revenue for the department and encourage investor participation in the auction.
During the auction’s inaugural day, a plot identified as 53F, covering an area of 666.67 square yards in I-8 Markaz, was successfully auctioned for an impressive Rs 1.42 billion.
Plot number 53D located in I-8 Markaz was sold at the auction for an amount totaling Rs 1.09 billion.
During the auction, plots located in the Blue Area and Northern Strip of E-11 will also be up for bidding.
Throughout the four-day auction, Park Enclave Commercial, as well as petrol pumps and Class III Shopping Centers, will also be available for bidding.
The public auction will include a variety of offerings, such as agro farms, apartments, and industrial plots.
In this auction, plots designated for fruit, vegetable, and meat shops in the I-11 markets will be available for sale.
Additionally, it marks the first time that plots designated for hostels will be included in the auction.
The four-day auction will encompass the sale of residential plots as well. A committee headed by a Member of the State is overseeing the auction process.