The Capital Development Authority (CDA) auctioned six commercial plots worth Rs. 17.14 billion on the first day of its open auction. The process was personally overseen by CDA Chairman and Chief Commissioner Islamabad, Muhammad Ali Randhawa, as part of a three-day auction event being held in the federal capital.
Among the most prominent deals, Plot No. 13 in Blue Area (G-8) was auctioned for approximately Rs. 7.24 billion, while Plot No. 14 in the same sector fetched around Rs. 4.16 billion. Plot No. 12, also in Blue Area, was auctioned for Rs. 3.60 billion. In Sector I-14, Plot No. 3-A sold for about Rs. 749.32 million, Plot No. 3-B for Rs. 709.32 million, and Plot No. 10-A for Rs. 669.32 million.
The open auction is scheduled to continue on July 16 and 17, featuring commercial plots from various sectors including Blue Area, as well as shops from the Blue Area Parking Plaza. According to CDA, a total of 46 plots and shops in different categories have been presented for bidding. The auction process is being conducted in a transparent manner through open competition.
On the chairman’s directives, CDA board members including Member Estate Talat Mehmood, Member Finance Tahir Naeem, Member Engineering Syed Naffasat Raza, and Member Planning Dr. Khalid Hafeez monitored the proceedings closely. Additionally, a committee led by Member Finance Tahir Naeem was formed comprising senior officials including the DG Resource, DG Building Control, DG Law, and others to ensure transparency and compliance.
The CDA also organized an Investment Expo at Jinnah Convention Centre to provide information and support to investors and the business community. Various wings of CDA including Environment, MCI, and Sports & Culture Directorates set up information booths at the expo.
The authority is offering incentives such as a 5 percent discount for lump-sum payments within a month and an additional 5 percent concession for payments in US dollars. Chairman Randhawa stated that all revenue generated through this auction will be used for the development of Islamabad, including sector development, infrastructure improvements, and beautification projects.