Heavy monsoon rains and flooding disrupted the final day of the Capital Development Authority’s (CDA) commercial plots auction, resulting in the sale of only four shops. Investor turnout remained low due to the adverse weather conditions, despite earlier enthusiasm shown during the first two days of bidding.
On the third and final day, CDA managed to auction four shops located in the Blue Area Parking Plaza. Shop No. 8-A fetched Rs. 145.7 million, Shop No. 10-A sold for Rs. 143.2 million, Shop No. 12-A was auctioned for Rs. 146.7 million, and Shop No. 8-C went for Rs. 94.3 million. Though fewer in number, the auction of these units reflected continued interest in prime commercial spaces.
Over the course of three days, CDA successfully auctioned a total of 8 commercial plots and 4 shops, generating total revenue of approximately Rs. 19.56 billion. The auction drew attention for its transparency, with CDA Chairman Muhammad Ali Randhawa personally overseeing the process along with key members of the estate, finance, engineering, and planning departments.
Significant deals from the second day included Plot No. 20 (Petrol Pump Category) in I-14 Markaz sold for Rs. 1.64 billion, and Plot No. 1-E in F-11/1, which sold for approximately Rs. 251.3 million. The first day witnessed record-breaking sales with Plot No. 13 in Blue Area (8-G) auctioned for around Rs. 7.24 billion, followed by Plot No. 14 at Rs. 4.16 billion, and Plot No. 12 at Rs. 3.6 billion. Other plots in I-14 fetched between Rs. 669.32 million and Rs. 749.32 million.
A total of 46 commercial plots and shops were presented for open auction over the three-day event. The CDA held an Investment Expo at the Jinnah Convention Centre to brief the investors and business community. Special investor-friendly incentives included a 5 percent discount on full payment within one month, and an additional 5 percent discount for payments in US dollars.
The revenue from the auction will be utilized for the development of Islamabad’s infrastructure, road networks, and beautification projects.
