The Capital Development Authority (CDA) successfully concluded a three-day auction of commercial plots, generating a total of Rs 16.641 billion.
During the event, 13 commercial plots across various categories were auctioned, attracting strong investor interest. On the final day alone, seven plots raised Rs 4.206 billion. CDA Chairman Muhammad Ali Randhawa, speaking at the Gandhara Citizen Club, expressed appreciation for the robust participation and highlighted the importance of investor confidence in CDA. He noted that the revenue generated would be used to improve facilities for all citizens, including investors.
Randhawa emphasized the partnership between investors and CDA in shaping Islamabad’s development, encouraging collaboration and suggestions for modernization. He also highlighted the authority’s move towards e-governance and assured investors that their concerns would be prioritized to create a transparent and investor-friendly environment.
The auction, supervised by a committee led by Member Finance Tahir Naeem and Director of Estate Management II Tabinda Tariq as secretary, maintained a competitive and transparent bidding process. Plots in prime locations, such as Blue Area and other key sectors, were offered, with bids now set for final approval by the CDA Board.
Chairman Randhawa congratulated the auction committee for its successful efforts, emphasizing the positive impact this would have on Islamabad’s growth and development.
