ISLAMABAD: The Capital Development Authority (CDA) fetched Rs19.5 billion in its three-day auction of commercial plots and shops which concluded on Thursday.
On the other hand, the Development Working Party (DWP) of the CDA approved PC-I of several new projects.
On the first day, the CDA received an overwhelming response from investors as plots worth Rs17 billion were sold out. However, during the remaining two days, the sold out plots and shops were worth around Rs2.5 billion.
“Investors showed full confidence in CDA by participating in large numbers on the final day, showing particular interest in purchasing shops at Blue Area Parking Plaza. During the three-day auction, 8 commercial plots and 4 shops were auctioned for Rs 19.56 billion,” said a press release issued by the civic agency.
It said that details of the third day included the auction of shop number 8A in the Blue Area parking plaza for Rs14.57 crore, shop number 10A for Rs14.32 crore, shop number 12A for Rs14.67 crore and shop number 8C for Rs9.43 crore.
“Additionally, on the second day, plot number 20 in Sector I-14 (petrol pump category) was sold for Rs1.64 billion. Plot number 1-E in F-11/1 was auctioned for approximately Rs25.13 crore,” read the press release.
It added that as part of investor- and business-friendly initiatives, a 5pc rebate was offered on lump-sum payments made within one month. An additional 5pc rebate was also available for payments made in US dollars.
The CDA said revenue generated from the auction will be spent on the development and beautification of Islamabad, including sector development and road infrastructure upgrades, with the “goal of transforming Islamabad into a modern and exemplary Capital city.”
Meanwhile, the DWP of CDA headed by the CDA chairman approved several road infrastructure and social community projects.
These included the approval of PC-I for development of Christian graveyard in H-8/1 at an estimated cost of Rs275 million. The DWP also approved PC-I aimed at resolving traffic congestion issues at Shaheen Chowk (intersection of 9th Avenue and Khayaban-i-Iqbal) at an estimated cost of Rs1899 million.
The scope of the project consists of a 2+2 lane underpass along Khayaban-i-Iqbal. The proposed project will be completed within six months. Another PC-I regarding construction of a flyover at the junction of G.T Road and Islamabad Highway, prepared and designed by Nespak at an estimated cost of Rs1803 million was also approved. The scope of the project includes a two-lane flyover at Rawat T-Chowk from N-5 (Gujar Khan side) to Islamabad Highway. The proposed project will be completed within 12 months.
Published in Dawn, July 18th, 2025
