Successful bid: Property tycoons force CDA to defer auction

Say authority has failed to provide utilities at auctioned plots.


Danish Hussain February 13, 2015
CDA Chairman Maroof Afzal held a meeting with IDA on Thursday and told them to submit complaints and proposals to the authority which will be discussed at the next meeting on Monday. PHOTO: Stock Image

ISLAMABAD: The Capital Development Authority (CDA) has indefinitely deferred a commercial land auction scheduled for February 17 after top real estate developers of the city threatened to boycott the process.

Islamabad Developers Association (IDA), which represents real estate developers, had sought the PM’s intervention through a newspaper ad after CDA published its auction advert.  IDA says the civic authority has failed to provide electricity, water and sewage facilities at the auctioned plots.

Following the ad, govt asked CDA to hold meeting with IDA and address their complaints.

“Almost all the developers who invested thousands of millions in Islamabad real estate market have complained about lethargic processing of their cases by the CDA’s planning and design wing,” said a senior official of the authority.

Real estate developers said CDA has failed to deliver on its promise of providing the allied facilities.

CDA Chairman Maroof Afzal held a meeting with IDA on Thursday and told them to submit complaints and proposals to the authority which will be discussed at the next meeting on Monday.

IDA demanded that the CDA revise its by-laws according to the changing needs of the city, give developers representation in the CDA board, and introduce one-window processing for commercial plots valuing over Rs1 billion.

Masud Abbasi, an IDA office bearer, said they would not participate in any CDA land auction until their demands are met. Abbasi’s APCO group intends to erect an 18-storey tower named Park-One in place of the Margalla Towers, which collapsed in 2005 earthquake. The firm had offered the highest bid of RsRs1.65 billion for the plot but the firm has yet to start the construction work at the site due to missing facilities.

A statement issued by CDA said that the chairman had assured IDA to address their concerns and provide all facilities at the auctioned plots.

Published in The Express Tribune, February 13th, 2015.

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