Key Takeaways
- CDA will auction seven petrol pump sites and five hotel plots in Islamabad.
- Token money of Rs. 250 million is required for participation.
- Auction for hotel plots will be held on October 12, followed by petrol pump sites on October 13.
The Capital Development Authority (CDA) is set to auction seven petrol pump sites and five hotel plots in Islamabad, aiming to attract investment in the capital.
The auction will take place over two days: hotel plots on October 12 at 10 AM at Jinnah Convention Centre, and petrol pump sites on October 13.
A token money of Rs. 250 million is required for participation, with the monthly rent determined through open bidding and paid in advance, subject to a 10 percent annual increase.
For the hotel plots, successful bidders will receive a one-year payment facility, with building plans approved after 25 percent of the bid amount and possession after 75 percent.
A five percent discount is available for full payment within 30 days, and another five percent for complete payment in US dollars.
Overseas investors can obtain auction tokens at least one day before the auction and make payments through Roshan Digital Accounts or local banking channels.
The seven petrol pump sites will be auctioned as a single package on a 20-year lease basis, open only to registered Oil Marketing Companies (OMCs).
The successful bidder will have a maximum of five months to complete construction and development, bearing all costs including construction, development, utility, approval, tax, and licensing.
Further details and the revised auction brochure are available from CDA One Window Directorate and designated branches of MCB, HBL, UBL, Askari Bank, and Bank of Punjab, or downloadable from the CDA website.
