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Two days auction of commercial plots

Islamabad, June 15, 2015: Capital Development Authority’s (CDA) two days auction of commercial plots  has commenced here at Pak-China Friendship Centre here on Monday.

A ten member auction committee headed by Member Finance is supervising the auction process. Member Planning and Design, Director General Land and Estate, Deputy Financial Advisor, Deputy director General Law, Director Public Relations, Director Estate Management –I, Director Urban Planning, Director Estate Management-II and Director One Window Operations are the members of the committee.

On the first day of auction, plot number 12 of markaz F-11 measuring 888.88 square yards which received a record bid of Rs. 790,000/- per square yard was auctioned at the price Rs. 700.00 million, which shows the healthy prospects of  business and investment in Islamabad. The auction of the commercial plots would continue on Tuesday June 16, 2015. The auction process was affected due to some reservations of some investors / developers. However, after successful negotiation the issue at hand was resolved. CDA has also decided to address the issues raised by Islamabad Developers Association (IDA) on sustainable basis to encourage the active participation in development of the city…… Read More