Islamabad: On the third day of its four-day auction event, the Capital Development Authority (CDA) sold 18 commercial plots in a variety of categories, raising approximately Rs. 21.84 billion.
With five commercial plots selling for Rs. 5.024 billion on the third day alone, a sizable number of investors took part. The auction had previously brought in more than Rs. 16.82 billion. The erected stores in the Blue Area Parking Plaza will be put up for auction on Friday, today, the last day.
According to the auction details, Plot No. 25-B in Sector G-11/1 sold for Rs. 2.794 billion, Plot No. 5 in Sector G-9/2 for Rs. 246 million, and three plots in I-14 Markaz, Plot Nos. 3-E, 3-D, and 3-C, each sold for Rs. 661.3 million. These sales brought in a total of over Rs. 5.024 billion.
The CDA Member Finance is chairing the CDA Auction Committee, which is in charge of overseeing the auction. All bids will be carefully examined before being approved by the CDA Board. According to Muhammad Ali Randhawa, Chairman of the CDA, the money raised would be used to improve and adorn Islamabad.
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