ISLAMABAD: The Capital Development Authority (CDA) generated Rs13.52 billion on the first day of a three-day auction of residential and commercial plots in the federal capital.
The auction, being held at the Jinnah Convention Centre, is being supervised by Member Finance Tahir Naeem and an auction committee constituted under his chairmanship, in line with the directions of Muhammad Ali Randhawa, Chairman Capital Development Authority (CDA) and Chief Commissioner Islamabad.
According to official details, two high-value commercial plots in the Blue Area attracted the largest bids. Plot No. 15 in the F-8/G-8 sector was auctioned for Rs3.52 billion, while Plot No. 17 in the same area fetched Rs9.15 billion. In addition, two plots under the Orchards Scheme on Murree Road — Plot No. 37-C and Plot No. 37-D — were sold for Rs422 million and Rs420 million, respectively. A total of four plots were auctioned on the opening day.
Speaking on the occasion, Chairman CDA Muhammad Ali Randhawa said the robust participation by investors demonstrated their trust in CDA’s policies, adding that strengthening investor confidence remained a top priority for the authority.
The auction will continue until December 24, offering a range of residential and commercial plots, including those in various centers, the E-11 Northern Strip, Agro Farms, petrol pumps, and constructed shops in the Blue Area. Residential plots from multiple sectors are also part of the offering.
To encourage participation, CDA has introduced several investor-friendly incentives. These include a 5 percent additional discount for commercial plot payments made in US dollars and a 5 percent discount for lump-sum payments within 30 days of bid approval. Building plan approval will be granted after an initial 25 percent payment, while possession will be handed over upon 75 percent payment.
All received bids will be presented to the CDA Board, the competent authority for approval or rejection, after detailed scrutiny.
The CDA chairman said the revenue generated through the auction would be utilized for the construction, development, and beautification of Islamabad, aimed at improving urban infrastructure and public amenities in the federal capital.
Copyright Business Recorder, 2025
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