ISLAMABAD: Plots worth over PKR 17 billion in total were auctioned in the public auction of residential and commercial plots in the Federal Capital, Islamabad, organized by the Capital Development Authority (CDA). Investors showed healthy participation on the final day of the auction as well.
Chairman CDA, Muhammad Ali Randhawa, personally reviewed the auction proceedings on the last day. Chairman CDA said that the active participation of investors in the public auction is a reflection of their complete confidence and trust in CDA’s policies. He said that earning the trust of investors is among our foremost priorities.
According to details, plots across various categories were sold for PKR 17.002 billion in the three-day auction process. On the final day of the auction, Plot No. 514 in Sector G-10/2 was sold for PKR 93.33 million. Plot No. 516 in Sector G-10/2 was auctioned for PKR 92.62 million and Plot No. 517 for PKR 100.44 million.
Furthermore, Plot No. 526 in Sector G-10/2 was auctioned for PKR 93.33 million and Plot No. 531 for PKR 94.04 million. Similarly, Plot No. 547 in Sector G-10/2 was auctioned for PKR 91.90 million, Plot No. 548 for PKR 91.90 million, and Plot No. 556 in the same sector for PKR 91.90 million.
In addition, Plot No. 9 in the Orchard Scheme, Murree Road, was auctioned for PKR 712 million. Similarly, Plot No. A-9 in the Orchard Scheme, Murree Road, was auctioned for PKR 732 million. Thus, on the final day of the public auction, a total of 10 plots from different categories were sold for PKR 2.193 billion.
Thanking all the investors who participated in the auction, Chairman CDA Muhammad Ali Randhawa said that the revenue generated from the auction will be spent on providing facilities to all citizens, including investors. He said that the investors participating in the auction and CDA are working as partners in the city’s development and progress. Chairman CDA said that further improvements will be made in the Authority in light of suggestions from the business community and investors.
In line with the direction of Chairman CDA, the auction process was supervised by Member Finance, Tahir Naeem, and the Auction Committee formed under his chairmanship. The Auction Committee made effective arrangements to ensure the auction was transparent and created a competitive environment. Chairman CDA commended the Auction Committee for the successful and transparent conduct of the auction.
Chairman CDA, Muhammad Ali Randhawa, directed that various incentives and facilities be provided to investors under investor-friendly measures during the auction.
The received bids will be presented before the CDA Board after thorough scrutiny. In this connection, the CDA Board is the authorized forum for approving or rejecting the received bids.