Key Takeaways
- The Capital Development Authority (CDA) auctioned commercial properties and agro farms, generating over Rs. 16 billion.
- Agricultural land on Murree Road sold for Rs. 1.212 billion, while several shops fetched millions each.
- Proceeds will fund infrastructure improvements in Islamabad.
The Capital Development Authority (CDA) has successfully concluded the first two days of its three-day commercial property auction at the Jinnah Convention Centre, raising Rs. 16.438 billion from investors bidding for agro farms and shops across Islamabad.
On the second day, Agro Farm No. 18 on Murree Road was sold for Rs. 1.212 billion, while Agro Farm No. 17 A fetched Rs. 966 million. The auction also saw several built-up shops at the Blue Area Parking Plaza sell for significant amounts.
Specifically, Shop No. 8 A was sold for Rs. 152.646 million, Shop No. 10 A for Rs. 147.706 million, and Shop No. 12 A for Rs. 153.634 million.
Muhammad Umair, Chairman of the Auction Committee, stated that the auction provides investors with an opportunity to acquire commercial properties in Islamabad’s federal capital. He added that the proceeds will be used to improve infrastructure, complete major development projects, enhance civic services, and address water-related issues.
All successful bids are subject to scrutiny by the CDA Board before final approval or rejection. The authority thanked participants for their involvement and reaffirmed its commitment to improving public infrastructure and urban development.
The auction concludes on August 6, with the remaining properties expected to generate additional revenue.
Proceeds from this auction will significantly contribute to ongoing projects in Islamabad, ensuring better living conditions for residents and enhancing the city’s economic landscape.
The auction provides investors with an opportunity to acquire commercial properties in the federal capital.
Muhammad Umair, Chairman of the Auction Committee
