ISLAMABAD: The Capital Development Authority (CDA) on the opening day of its three-day auction of commercial plots received an “overwhelming response of investors” and fetched Rs17.4 billion after selling six plots.

“The historic and successful open commercial auction of CDA’s plots was held at Jinnah Convention Centre. Chairman CDA and Chief Commissioner Muhammad Ali Randhawa, personally monitored and supervised the transparent auction process of CDA’s commercial plots,” said a press release.

It said six commercial plots were sold out for Rs17.14 billion which it said “is a record achievement in the history of CDA.”

The CDA stated that Plot No 13 in Blue Area (G-8) was auctioned for approximately Rs7.24 billion. Similarly, Plot No 14 in Blue Area was sold for around Rs4.16 billion while Plot No 12 in Blue Area was auctioned for about Rs3.60 billion.

Additionally, Plot No 3-A in Sector I-14 was auctioned for Rs74.932 crore. Likewise, Plot No 3B in I-14 Markaz was sold for Rs70.932 crore, while Plot No 10A in I-14 Markaz was auctioned for Rs66.932 crore.

In the three-day open auction, 46 plots and shops in various commercial centres, including Blue Area, have been offered for open bidding.

The press release said investor and business-friendly measures have been taken, including a 5pc rebate on lump-sum payments made within one month. Additionally, an extra 5pc rebate will be offered for lump-sum payments in US dollars.

Addressing the investors and business community, the CDA chief said that strong participation of investors in the open auction of commercial plots reflected their trust in CDA’s policies.

He added that for over a year, “we have worked day and night with dedication for the betterment of Islamabad and its citizens. Some of our projects are upcoming while others are in the final stages.”

Published in Dawn, July 16th, 2025