CDA sells another nine plots to raise Rs15.5b

ISLAMABAD:

Investor interest piqued on Tuesday, the second day of the annual three-day auction of plots in Islamabad with bids submitted for nine plots worth a total Rs15.5 billion.

So far, the CDA has received bids worth a combined Rs19 billion over the first two days of their annual auction.

On the second day of the three-day auction of residential, commercial, agro-farm and industrial plots in the federal capital, the Capital Development Authority (CDA) said there was a rally from investors. They said that plots from the Blue Area new vision sector - lying between Jinnah Avenue and Ibn-e-Sina Road overlooking Sector F-9 Park, Sector G-11/3, Diplomatic Enclave, F-10, Industrial Triangle Kahuta (ITK), orchard scheme and the industrial area in Sector I-10/3 received bids from investors.

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Earlier on the first day of the auction, investors had bid on only four plots, including in the Diplomatic Enclave, Sector G-9 Markaz and Sector I-8 Markaz. It raised just Rs3.5 billion.

As many as 28 residential apartments, economy flats, hotels, petrol pumps, orchard schemes, industrial and commercial plots in the capital are being auctioned by the CDA.

A ten-member committee headed by CDA Member Finance is supervising the auction proceedings. Other members of the committee include Member Estate, Member Planning and Development, DFA-II, Law DG, directors of public relations, urban planning, regional planning, EM-II and Finance.

Published in The Express Tribune, September 23^rd, 2020.