Capital Development Authority fetches Rs 3.75 billion through auction of commercial plots on first day

Islamabad, December 13, 2016 (PPI-OT): Capital Development Authority (CDA) has successfully auctioned 08 commercial plots worth of Rs.3.75 billion on Tuesday. The plots were auctioned on first day of two days auction held by CDA at Jinnah Convention Centre in Islamabad. The auction will continue on Wednesday as concluding day.

Commercial plots from I-8 Markaz, Diplomatic Enclave, G-11 and D-12 were auctioned on the first day. The auction witnessed impressive gathering of investors with enthusiastic participation. The enthusiastic response from investors is the outcome of investors friendly policies of new CDA administration headed by Mayor of Islamabad and Chairman, CDA Sheikh Anser Aziz.

A nine member committee headed by Member Finance, CDA Dr. Fahad Aziz supervised the auction proceedings. Member (Planning), Dy. D.G (Finance), Dy. D.G (L and E), Dy. D.G(Law), Director (UP), Director (RP), Director Public Relations and Director Estate Management-II of CDA were the members of the committee.

Mayor of Islamabad and Chairman CDA, Sheikh Anser Aziz while expressing his pleasure over transparent and successful auction of commercial plots on the first day of the auction process said that new CDA Administration has managed to fetch investors earlier interested in other private housing societies. In future with our consistent investor friendly policies, CDA will get even better response. The ongoing auction is decidedly successful in comparison with previous auctions which failed to attract investors.

Mayor of Islamabad and Chairman CDA, Sheikh Anser Aziz further said that the income from the auction of residential plots will be spent on development of various sectors of Islamabad. Particular attention has been paid to the preservation of green areas in the residential sectors to maintain the balance between residential and green areas. Mayor of Islamabad and Chairman further said that the successful auction of a large number of plots at much higher prices on the first day of the auction process is the expression of trust by the citizens in Capital Development Authority.

CDA will use all available resources for development of sectors and provision of civic amenities to the residents. The committee will submit its recommendations to the CDA Board. The CDA Board is the competent authority to accord final approval to the recommendations after the conclusion of auction process.

For more information, contact:
Public Relations Directorate
Capital Development Authority (CDA)
Main Office, G-7/4, Islamabad
Tel: +92-51-9252614