ISLAMABAD STAFF REPORTER
The second day of the historic and successful open auction of CDA’s commercial plots was held at the Jinnah Convention Center, Islamabad. Chairman CDA and Chief Commissioner Islamabad, Muhammad Ali Randhawa, personally supervised the auction process of commercial plots in the Capital. Investors showed keen interest in purchasing various plots, with active participation in the open auction.
So far, eight commercial plots have been auctioned for a total of Rs. 19.03 billion.
According to details, on the second day of the auction, Plot No. 20 in the petrol pump category, located in I-14 Markaz, was sold for Rs. 1.64 billion. Similarly, Plot No. E-1 in F-11/1 was auctioned for approximately Rs. 25.13 crore. Meanwhile, on the first day of the auction, Plot No. 13 in Blue Area (G-8) was sold for Rs. 7.24 billion, Plot No. 14 in Blue Area (G-8) for Rs. 4.16 billion, and Plot No. 12 in Blue Area (G-8) for Rs. 3.60 billion.
Additionally, Plot No. 3-A in Sector I-14 was auctioned for approximately Rs. 74.932 crore, while Plot No. 3-B in I-14 Markaz was sold for Rs. 70.932 crore and Plot No. 10-A in I-14 Markaz for Rs. 66.932 crore. The grand open auction of commercial plots in Islamabad and shops in Blue Area’s parking plaza organized by CDA, will continue until July 17.
The overwhelming participation of investors in the auction is clear indication of their confidence and trust in CDA’s transparent and open Auction. Commercial plots and shops across various categories are being auctioned through open bidding in a fair and transparent manner. A total of 46 plots and shops have been offered for auction in this three-day event.
Under the direction of Chairman CDA Muhammad Ali Randhawa, Member Estate Talat Mehmood, Member Finance Tahir Naeem, Member Engineering Syed Nafasat Raza, and Member Planning Dr. Khalid Hafiz personally supervised the open auction. Additionally, a committee headed by Member Finance Tahir Naeem has been formed, comprising DG Resource, DG Building Control, DG Law and other officers to oversee the whole process.
Chairman CDA and Chief Commissioner Islamabad Muhammad Ali Randhawa alao visited the Investment Expo at the Jinnah Convention Center to engage with investors and the business community. Information stalls are set up by the Environment Wing, Resource & Planning Wing, MCI and the Sports & Culture Directorate which briefed Chairman CDA and the investors.
Chairman CDA directed that maximum facilities be provided to investors and the business community. Chairman CDA directed that a facilitation team would guide investors at every step. He emphasized that the revenue generated from the auction would be spent on the development of Islamabad, including sector development, road infrastructure improvements and beautification projects, to help make Islamabad a model and exemplary city.
