+- Pakistan Real Estate Times - Pakistan Property News (https://www.pakrealestatetimes.com)
+-- Forum: Pakistan Real Estate / Property News (/forumdisplay.php?fid=1)
+--- Forum: Latest Pakistan Property & Economic News (/forumdisplay.php?fid=4)
+--- Thread: CDA to auction six plots for setting up filling stations (/showthread.php?tid=8730)
CDA to auction six plots for setting up filling stations - Naveed Yaseen - 11-12-2009 06:25 AM
Mobarik A. Virk
The Capital Development Authority (CDA) has carved out five new plots specifically to be offered for setting up filling stations (petrol pumps) at different locations in the metropolis.
In addition to the five new plots, the CDA has included one of the existing filling stations along Ataturk Avenue (Embassy Road) in Sector G-6/4 in the list. These plots are being auctioned with an objective to create more of these facilities for the general public as well as to generate much-needed funds to ease out the financial constraints the CDA is currently undergoing.
The CDA suffered a financial setback following the last open auction of residential and commercial plots in the federal capital when a number of successful bidders preferred to give up on the ‘down payments’ they had made at the time of bidding instead of paying the remaining amount of their bids.
The overall security situation in the country has adversely affected the real estate market in the federal capital too and the enthusiasm of public in buying residential and commercial plots offered by the CDA through open auctions has become somewhat subdued.
In the upcoming open auction of plots for filling stations, only the pre-qualified bidders will participate, which are likely to be from leading oil marketing companies or their qualified and financially sound representatives-dealers. These five new plots for filling stations are located in Sector G-9/2 near Community Centre opposite the F-9 Park, the second one is in Sector G-8/2, opposite the G-8 Markaz, the third is located along IJ Principal Road in Sector I-8/1, the fourth is along Jinnah Avenue in Blue Area close to the Saudi-Pak Tower while the fifth is located along Kashmir Highway near MPO Workshop. At present, there is only one filling station along Kashmir Highway located near Golra Chowk, which has recently started its operations. The new plot would be only the second such facility on Kashmir Highway, which will certainly help motorists travelling through this busy road.
Similarly, there was only one filling station operating along Jinnah Avenue in the Blue Area. It would be a welcome addition here too, if the location is on the opposite side (south), as the existing facility is on the north side of Jinnah Avenue.
There is already one filling station operating in the G-8 Markaz facing G-8/3. Another one in Sector G-8/2 would certainly be of help to the inhabitants of the sector.
However all these sites are for filling stations (petrol-diesel only) and if any of the successful bidder may desire to set up CNG pumping facility alongside the petrol and diesel, then they would be required to get certification from the Oil and Gas Regulatory Authority (OGRA).
The date for auction is yet to be announced. Initially the CDA has called applications for pre-qualification of eligible bidders who would be allowed to participate in the auction. The last date for sending applications to take part in the pre-qualification process has been set as November 23, 2009.
http://www.thenews.com.pk/daily_detail.asp?id=208144