3-day commercial plots auction: CDA generates revenue of over Rs17.14bn on first day

ISLAMABAD: Capital Development Authority (CDA) successfully conducted the first day of its three-day commercial plots auction, generating a record-breaking revenue of over Rs17.14 billion.

The auction is being personally supervised by CDA Chairman and Chief Commissioner Islamabad, Mohammad Ali Randhawa.

Among the top bids on the first day: (1) Plot No 13, Blue Area (G-8) fetched the highest bid of approximately Rs7.24 billion; (2)Plot No 14, Blue Area (G-8) was sold for around Rs4.16 billion; (3) Plot No 12, Blue Area (G-8) went for nearly Rs3.60 billion; (4) Plot No 3-A, I-14 Markaz fetched Rs749.32 million; (5) Plot No 3-B, I-14 Markaz was auctioned for Rs709.32 million; (6) Plot No 10-A, I-14 Markaz sold for Rs669.32 million.

The open auction, taking place from July 15 to 17, includes 46 commercial plots and shops across prime sectors of Islamabad, including Blue Area and various Markaz centres. The auction also features commercial shops in a Blue Area parking plaza.

The auction has witnessed enthusiastic participation from investors, reflecting strong market confidence in CDA’s investment-friendly initiatives. All plots are being offered through open bidding in a transparent manner, with multiple categories of commercial properties available.

In line with Randhawa’s vision, senior CDA officials, including Member Estate Talat Mehmood, Member Finance Tahir Naeem, Member Engineering Syed Naffasat Raza, and Member Planning Dr Khalid Hafeez, are personally overseeing the auction proceedings.

Additionally, a high-level committee headed by Member Finance Tahir Naeem has been formed, which includes DG Resource, DG Building Control, DG Law, and other senior officers.

To further engage the business community, CDA is also hosting an Investment Expo at Jinnah Convention Centre, featuring booths by the Environment Wing, MCI, and Sports and Culture Directorate.

Randhawa emphasised full facilitation of investors and directed that all possible services be extended. Investor-friendly incentives include a five per cent discount for full lump-sum payments made within one month, with an additional five per cent discount offered for payments made in US dollars.

“The proceeds from this auction will be utilized for the development of Islamabad, including sector infrastructure, road improvement, and beautification,” stated Randhawa, adding the ultimate goal is to make Islamabad a model and exemplary city.

Copyright Business Recorder, 2025