The Capital Development Authority (CDA) auctioned residential and commercial plots worth a total of Rs. 13.52 billion on the first day of a three-day auction in Islamabad.
The auction is being held at Jinnah Convention Centre and will continue until December 24, with multiple categories of plots being offered to investors.
On the directives of the CDA Chairman, the auction process is being supervised by Member Finance Tahir Naeem, along with an auction committee formed under his leadership. The authority stated that strong participation by investors reflects confidence in CDA policies and its approach toward transparent and investor-friendly procedures.
During the first day, Plot No. 15 located in the Blue Area (F-8/G-8), was auctioned for Rs. 3.52 billion, while Plot No. 17 in the same area fetched Rs. 9.15 billion. In the Orchard Scheme on Murree Road, Plot No. C-37 was sold for Rs. 422 million, whereas Plot No. D-37 was auctioned for Rs. 420 million.
The three-day auction includes residential and commercial plots in various locations, including E-11 Northern Strip, agro farms, petrol pump sites, and constructed shops in the Blue Area. Residential plots in different sectors of Islamabad are also part of the auction process, aimed at attracting both local and national investors.
Under CDA’s incentive framework, investors are being offered a 5 percent rebate on commercial plots for payments made in US dollars, along with an additional 5 percent discount on lump-sum payments made within 30 days of bid approval. Building plan approval is available after 25 percent payment, while possession of plots can be obtained after 75 percent payment.
All received bids will be scrutinized and presented to the CDA Board, the competent authority to approve or reject them, and the revenue generated will be utilized for the development, uplift, and beautification of the federal capital.
