The Capital Development Authority (CDA) generated Rs. 13.80687 billion from the sale of four commercial plots on the first day of its three-day open auction in Islamabad.
The auction, held at the Jinnah Convention Centre, will continue until August 6, allowing investors and businesses to bid for commercial properties across the federal capital.
According to auction results, Plot No. 18 in Blue Area attracted the highest bid of Rs. 9.13465 billion, while Plot No. C-1 in Blue Area was sold for Rs. 3.51332 billion.
Other successful bids included Plot No. 2 in G-1, I-9 Markaz, which fetched Rs. 529.575 million, and Plot No. 2 in G-6 I&T, Aabpara Market, which was sold for Rs. 629.32 million.
The four plots collectively generated Rs. 13.80687 billion in revenue on the opening day.
The authority added that proceeds from the auction will be used for infrastructure development, completion of ongoing projects, improvement of civic services, and resolving key issues, including water supply challenges in Islamabad.
The Chairman of the CDA Auction Committee said the authority remains focused on completing development projects across the capital on a timely basis.
The three-day auction features commercial plots across various locations, including commercial centres, E-11 Northern Strip, agro farms, petrol stations, and constructed shops at the Blue Area Parking Plaza.
CDA is offering a 5 percent discount for payments made in US dollars, along with an additional 5 percent discount for full payment within 30 days of bid approval.
Successful bidders can apply for building plan approval after paying 25 percent of the bid amount, while possession of plots will be handed over after 75 percent payment.
The authority said all bids will undergo detailed scrutiny before being submitted to the CDA Board, which will have the final authority to approve or reject them.
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