Capital Development Authority (CDA) successfully concluded its three-day auction of commercial plots, on Thursday generating an impressive Rs 16.641 billion.
A total of 13 commercial plots of various categories were auctioned during the event, attracting robust participation from investors. On the final day, seven plots alone fetched Rs 4.206 billion.
Chairman CDA Muhammad Ali Randhawa, who addressed investors at the Gandhara Citizen Club, expressed his gratitude for their active participation.
“The large number of investors in the auction reflects their confidence in CDA. The revenue generated will be invested in enhancing facilities for all citizens, including investors,” he said.
Randhawa emphasized the mutual partnership between investors and CDA in shaping Islamabad’s development, encouraging further collaboration and suggestions to modernize the capital.
Highlighting CDA’s shift towards e-governance, Randhawa assured investors that their concerns would be addressed as a priority. “Our goal is to create a transparent and investor-friendly environment,” he stated.
The auction was overseen by a committee led by Member Finance Tahir Naeem, with Tabinda Tariq, Director of Estate Management II, serving as secretary.
The committee ensured a competitive and transparent bidding process, offering commercial plots in prime areas like Blue Area and other key centers. The bids are now set to be scrutinized by the CDA Board, the final authority for bid approval.
Chairman Randhawa congratulated the auction committee for the successful event, noting the significant contributions it will make to Islamabad’s growth and modernization.
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