Two days auction of commercial plots

Islamabad, June 15, 2015 (PPI-OT): Capital Development Authority’s (CDA) two day 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.

CDA has reiterated that Authority would continue its business friendly policies which are focused to benefit serious investors to make Islamabad a modern business hub of the country. Furthermore, authority has resolve to address the genuine grievances of all stakeholders.

CDA has shown its commitment that revenue generated through the auction would be spent on the public welfare, mega projects and development of the Islamabad. Moreover, auction of commercial plots would help enhance the business opportunities in the city on one hand while it would also help generate more employment opportunities on the other.

CDA is focusing on business friendly policies so that equal investment opportunities could be ensured. Islamabad being the most secured and beautiful city of the country is ideal for business activities and secured investments. For this reason majority of the investors are keen to invest in Islamabad and CDA is utilizing its all available resources for providing equal and friendly business policies in the Federal capital.

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