Auction of commercial plots: CDA raises Rs15.69bn on first day

ISLAMABAD: The Capital Development Authority (CDA) raised a staggering Rs15.69 billion on the first day of its commercial plots auction, signalling strong investor confidence in Islamabad’s real estate market.

The auction, held at the Jinnah Convention Centre, saw intense bidding as seven prime commercial plots were sold at record prices.

CDA Chairman Muhammad Ali Randhawa oversaw the event and expressed satisfaction over the high investor turnout. He attributed the success of the auction to CDA’s proactive policies and development initiatives.

Among the major sales, a plot in Blue Area G-8 fetched the highest bid of Rs4.199 billion, followed by another in the same sector that sold for Rs3.466 billion.

A prime plot in I-8 Markaz was auctioned for Rs3.34 billion, while others in G-8, G-9, and F-7 Markaz also attracted significant bids.

Randhawa highlighted CDA’s recent achievements, including the completion of key projects like Jinnah Square and the Recep Tayyip Erdogan Interchange, and ongoing efforts to modernise the city’s infrastructure.

He assured that the revenue generated from the auction would be reinvested into Islamabad’s beautification and development.

The four-day auction will continue until February 28, offering more commercial plots in Blue Area, Markaz sectors, Industrial Zones, and Park Enclave.

The CDA has also introduced investor-friendly incentives, including an extended payment plan, early possession options, and discounts for lump-sum and US dollar payments.

All bids will be scrutinised before final approval by the CDA Board.

Copyright Business Recorder, 2025