Civic body set to auction commercial plots

The Capital Development Authority (CDA) is ramping up efforts to attract international investment with its upcoming auction of commercial plots for luxury hotels and the launching of residential plots.

During a meeting chaired by CDA Chairman Muhammad Ali Randhawa, senior board members and officials reviewed plans to promote the auction, particularly among overseas Pakistanis and global investors.

According to a statement, two prime plots for 5-star hotels have been placed on the auction block, with the bidding process set to conclude on December 17, 2024.

The CDA Board has introduced flexible and investor-friendly terms, including easy payment plans and attractive incentives, to maximise participation.

Moreover, residential plots have also been planned for launching in sector C-14.

"These initiatives align with our strategic vision of making Islamabad a global hub for tourism, business, and modern living," Randhawa said.

He emphasised the importance of creating a favourable environment for high-end investors, with a particular focus on overseas Pakistanis.

To bolster international outreach, the chairman directed officials to collaborate with Pakistan's embassies and missions abroad to raise awareness about investment opportunities.

Sector C-14, nestled at the foothills of the picturesque Margalla Hills, will soon offer premium residential plots. Designed for a comfortable lifestyle, the sector is targeted at both local and overseas Pakistanis, with a preference for investments made in foreign currencies.

Randhawa reaffirmed CDA's commitment to transforming Islamabad into a hotspot for luxury development and modern urban experiences. "Our focus remains on unlocking new avenues of investment that benefit both local and international stakeholders," he added.