CDA Collected Rs6 billion from Plots Auction

[Salman]

Capital Development Authority (CDA) has fetched Rs6 billion approximately, from the two day auction of residential and commercial plots.

I have learnt that a large number of investors enthusiastically participated in the auction procedure and offered record prices of residential and commercial plots. Enthusiastic participation shows investors’ confidence in the transparency procedures and CDA’s commitment to deliver the right services.

As per an official, a ten-member auction committee headed by Member Finance CDA Arbab Sher Bahadar supervised the auction process. On the second day, 14 commercial plots of different sizes in the developed sectors, Industrial Area, Marakiz and Blue Area were auctioned and they fetched Rs 5,264 million from the auction.

The chairman CDA appreciated the efforts of the auction committee for conducting a successful auction. He said that auction of commercial plots will generate new business venues that will increase business activity volume in the federal capital. The income generated from the auction will be used for the development of the city.