CDA Earned Rs. 15 Billion on First Day of Plot Auction

The Capital Development Authority (CDA) witnessed strong investor interest on the first day of its four-day auction, securing over Rs. 15 billion from selling seven commercial plots. According to the CDA, the auction generated Rs. 15.694 billion in total revenue. Successful bidders are required to make payments under a two-year installment plan. The plots sold include Plot No. B-1 in I-8 Markaz for Rs. 3.34 billion, Plot No. 4-B in G-8 Markaz for Rs. 780.99 million, and Plot No. 4-C in G-8 Markaz for Rs. 690.99 million. Additionally, Plot No. 10 in G-9 Markaz fetched Rs. 1.071 billion, while Plot No. 11 and Plot No. 12 in Blue Area G-8 were auctioned for Rs. 3.466 billion and Rs. 4.199 billion, respectively. Meanwhile, Plot No. 13-X in F-7 Markaz was sold for Rs. 2.12 billion. CDA Chairman Mohammad Ali Randhawa emphasized that the revenue collected from the auction would be used for infrastructure improvements and beautification projects across the capital. The auction, taking place at the Jinnah Convention Centre, will continue until February 28. Over the years, the CDA has consistently auctioned plots to fund development and operational costs. However, officials believe that alternative revenue streams should be explored to sustain the authority’s financial stability in the long run.