Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
CDA’s plots auction fetches Rs. 6.7 billion
04-04-2014, 06:14 PM
Post: #1
CDA’s plots auction fetches Rs. 6.7 billion
CDA’s plots auction fetches Rs. 6.7 billion

Friday, April 04, 2014 - Islamabad —Twenty four (24) plots were sold in the two day open and transparent auction at all times high rates for the plots in the respective areas. The auction was still in progress till the issuance this press release. Plot No. 6 for luxury apartments of, F-10 Markaz fetched highest ever amount Rs. 2,37,000/- per square yard.

Chairman CDA Mr. Maroof Afzal said that the two days auction fetched much higher prices as compared to the previous ones, which testifies investor’s confidence in CDA’s transparent andinvestment friendly policies. On second day of the grand auction of commercial plots, the Capital Development Authority (CDA) received an unprecedented response from the business community. The two day auction commenced on Wednesday at Convention Centre fetched approximately Rs.6.7 billion.

Transparency openness and participation of business community in large number on first day of auction further enhanced the confidence of the investors. That’s why the second day of auction witnessed even more investors participating in auction process. Earlier Six (06) commercial plots located in different Marakiz of developed sectors, class three shopping centers and commercial plots of Blue area were auctioned on first day of the Auction and CDA fetched Rs. 2.68 billion on the first day, while 18 plots were auctioned today at record breaking rates Rs. 4,041,393,600.

A large number of bidders participated in the auction process. Auction Hall at Jinnah Convention Centre remained teeming with the bidder during the two days of the auction process. As per thedirections by the Chairman the high standards of openness and transparency were adhered to during two day of bidding process.

The two day auction of commercial plots was supervised by a committee headed by Member Finance, Arbab Sher Bahadur and comprising of Member Planning & Design, Mr. Waseem Ahmad Khan, Member Estate, Mrs. Shaista Sohail, Deputy Director General Finance, Zia-ur-Rehman Toor, Deputy Director General (law), Mrs. Najma Azhar, Director Estate Management-II, Muhammad Ali and Director Public Relations, Muhammad Asim Khichi. The auction committee would submit its recommendations to the CDA Board, which is the final Authority for approval of these auctions.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  LDA to Auction Commercial Plots on Soft Terms Salman 0 2,847 04-20-2016 04:17 PM
Last Post: Salman
  CDA to auction off commercial plots Salman 0 2,452 04-20-2016 04:13 PM
Last Post: Salman
  CDA fetches Rs 2.21b from two days’ auction of commercial plots Salman 0 2,745 10-16-2015 04:46 PM
Last Post: Salman
  LDA Auction 11 Plots in 9 Crore 38 Lakh Salman 0 2,674 09-19-2015 02:00 PM
Last Post: Salman
  CDA Witnesses Disturbance in Auction of Commercial Plots Salman 0 2,891 06-19-2015 05:31 PM
Last Post: Salman
  DA Nets Rs 124.72 million from Auction of Plots Salman 0 2,648 04-03-2015 07:15 PM
Last Post: Salman
  CDA to auction 50 commercial, residential plots Salman 0 2,574 03-30-2015 03:31 PM
Last Post: Salman
  LDA barred Engineers Society from Selling Commercial plots through open auction Salman 0 2,908 03-16-2015 02:52 PM
Last Post: Salman
  LDA Nets Rs 231m From Auction Of Plots Salman 0 2,589 01-27-2015 05:03 PM
Last Post: Salman
  LDA To Auction Commercial and Residential Plots On January 22, 2015 Salman 0 2,787 01-08-2015 06:34 PM
Last Post: Salman
  Open auction of petrol pump site and commercial plots on main Raiwind Road, Lahore, w Salman 0 4,449 01-05-2015 05:06 PM
Last Post: Salman
  Auction of amenity plots: SHC summons KMC administrator Salman 0 2,754 11-27-2014 01:38 PM
Last Post: Salman
  LDA grand auction Salman 0 2,254 11-15-2014 01:53 PM
Last Post: Salman
  CDA cancels plots auction scheduled for 24th Salman 0 2,731 10-14-2014 12:54 PM
Last Post: Salman
  LDA Auction Today Salman 0 2,327 09-08-2014 12:19 PM
Last Post: Salman
  Shop auctioned in Parking Plaza fetches Rs63.3m Salman 0 2,579 08-25-2014 12:02 PM
Last Post: Salman
  LDA To Auction to Commercial and Residential Plots on September 8th Salman 0 2,882 08-23-2014 03:34 PM
Last Post: Salman
  CDA To Auction Residential And Commercial Plots Salman 0 3,022 08-08-2014 06:30 PM
Last Post: Salman
  LDA To Auction Commercial and Residential Plots Salman 0 3,061 08-07-2014 05:00 PM
Last Post: Salman
  LDA Nets Rs 88.7 million In Auction Of Plots Salman 0 4,023 07-23-2014 01:56 PM
Last Post: Salman

Forum Jump:


User(s) browsing this thread: 1 Guest(s)