The Capital Development Authority (CDA) has recorded a strong start to its three-day property auction in Islamabad. On the first day alone, the authority auctioned residential and commercial plots worth Rs. 13.52 billion. The auction is being held at the Jinnah Convention Centre and will continue until December 24.
According to CDA officials, the robust response from investors reflects growing confidence in the authority’s policies. The auction aims to attract both local and national investors by offering plots in prime locations across the federal capital.
Auction Supervised by Senior CDA Officials
The auction is being conducted under the direct supervision of Member Finance Tahir Naeem. He is leading a dedicated auction committee formed on the directives of the CDA Chairman. Officials stated that the process follows transparent and investor-friendly procedures.
CDA emphasized that transparency remains a top priority. All bidding activities are being monitored closely. Officials believe the strong participation signals trust in CDA’s management and future development plans.
High-Value Plots Fetch Billions in Blue Area
Several prime plots attracted high bids on the first day. In Islamabad’s prestigious Blue Area (F-8/G-8), Plot No. 15 was auctioned for Rs. 3.52 billion. Another major transaction took place when Plot No. 17 in the same area was sold for Rs. 9.15 billion.
In the Orchard Scheme on Murree Road, bidding also remained competitive. Plot No. C-37 was sold for Rs. 422 million, while Plot No. D-37 fetched Rs. 420 million. These sales contributed significantly to the total revenue generated on day one.
Wide Range of Plots Offered to Investors
The ongoing three-day auction includes a diverse portfolio of properties. CDA is offering commercial and residential plots in multiple locations. These include the E-11 Northern Strip, agro farm plots, petrol pump sites, and constructed shops in the Blue Area.
Residential plots in various sectors of Islamabad are also part of the auction. The variety is intended to cater to different investment needs and budgets. CDA aims to encourage long-term investment in the city’s planned development.
Incentives and Payment Facilities Announced
To attract investors, CDA has introduced several incentives. A 5 percent rebate is available on commercial plots for payments made in US dollars. Investors can also receive an additional 5 percent discount on lump-sum payments completed within 30 days of bid approval.
Building plan approval is allowed after 25 percent payment, while possession of plots can be obtained after 75 percent payment. These flexible terms are designed to ease the investment process.
Revenue to Fund Islamabad’s Development
All bids received during the auction will be reviewed and scrutinized. The bids will then be presented to the CDA Board, which holds the authority to approve or reject them. Officials confirmed that the revenue generated will be used for development, uplift, and beautification projects across Islamabad.
CDA expects further strong participation in the remaining days of the auction. The authority is optimistic about achieving even higher revenue by the end of the three-day event.
