The Capital Development Authority (CDA) is conducting an auction for 47 plots, including commercial plots, orchards, poultry, and vegetable plots.
Real estate experts believe this auction will set the trend for big investors and prices of commercial properties in Islamabad.
The CDA management decided to conduct the auction after nearly one and a half years when the economy is in turmoil and construction costs are high.
The authority is unsure how much it will earn from the auction, but the Chairman hopes to earn over Rs. 20 billion.
The terms for building on the plots are favorable for investors, including 100% coverage for plots under 1000 square yards, and a flexible number of floors for larger plots.
The auction will take place over three days, starting tomorrow, and will include plots in the old and extended Blue Area, orchard plots, a plot on Murree Road, and 12 residential plots in Park Enclave.
The CDA has made preparations for the auction, publishing brochures and displaying advertising banners and streamers.
The auction committee is led by Member Estate Muhammad Afnan Alam and includes Member Finance and other senior officials.
