CDA Plot Auction Begins, Generates Rs. 13.52 Billion on Opening Day
Islamabad, — The Capital Development Authority (CDA) raised Rs. 13.52 billion on the first day of a three-day public auction of residential and commercial plots. The auction is being held at the Jinnah Convention Centre, officials said on Monday.
The auction began on Monday and will continue until December 24 in Islamabad. Strong investor participation was reported as high-value residential and commercial plots were offered for sale.
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CDA officials said two prime commercial plots in the Blue Area accounted for the bulk of the revenue on the opening day. Plot No. 15, located in the F-8/G-8 sector of the Blue Area, was auctioned for Rs. 3.52 billion, while Plot No. 17 in the same locality fetched Rs. 9.15 billion. In the Orchard Scheme on Murree Road, Plot No. C-37 was sold for Rs. 422 million, and Plot No. D-37 was auctioned for Rs. 420 million.
The auction process is being conducted under the directives of the CDA chairman and is being supervised by Member Finance Tahir Naeem. An auction committee constituted under his leadership is overseeing the proceedings to ensure transparency and compliance with established procedures. CDA officials stated that the level of participation on the first day reflects investor confidence in the authority’s policies and auction framework.
The three-day auction includes a wide range of residential and commercial properties. These include plots in the E-11 Northern Strip, agro farm plots, petrol pump sites, and constructed commercial shops in the Blue Area. Residential plots located in various sectors of Islamabad are also part of the auction, targeting both local and national investors.
Under CDA’s incentive package, investors purchasing commercial plots are being offered a five percent rebate on payments made in US dollars. An additional five percent discount is available for lump-sum payments made within 30 days of bid approval. The authority has also facilitated early development by allowing building plan approvals after the payment of 25 percent of the total bid amount. Possession of plots can be obtained after 75 percent payment.
Officials said all bids received during the auction will undergo detailed scrutiny before being presented to the CDA Board, which holds the authority to approve or reject the bids. The revenue generated from the auction will be allocated to development projects, infrastructure upgrades, and beautification initiatives across the federal capital.
