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CDA successfully auctioned 15 residential plots worth of Rs.500 million

Islamabad: May 16, 2017: Capital Development Authority (CDA) has successfully auctioned 15 residential plots worth of Rs.500 million on Tuesday. The plots were auctioned on first day of three (03) days auction held by CDA at Jinnah Convention Centre in Islamabad. The auction will continue till May 18, 2017. The auction witnessed impressive gathering of investors with enthusiastic participation. The enthusiastic response from investors is the outcome of investors friendly policies of new CDA administration headed by Mayor of Islamabad and Chairman, CDA Shiekh Anser Aziz.

 A nine member committee headed by Member Finance, CDA Dr. Fahad Aziz supervised the auction proceedings. Member (Planning), Dy.D.G (Finance), Dy.D.G (L&E), Dy.D.G(Law), Director (UP), Director (RP), Director Public Relations and Director Estate Management-II of CDA were the members of the committee.

Commercial plots which would be presented for auction are of different categories including 24 for Class-III shopping centers, nine (09) of different Marakiz, one (01) of diplomatic Enclave for apartment purpose, one (01) economy flats, two (02) meant for hotel purpose, three (03) petrol pump located at prime locations of Islamabad, one Auto mobile workshop, one (01) timber market and one (01) plot in Orchard Scheme Muree Road.  

Mayor of Islamabad and Chairman CDA, Sheikh Anser Aziz further said that the income from the auction of residential plots will be spent on development of various sectors of Islamabad. Particular attention has been paid to the preservation of green areas in the residential sectors to maintain the balance between residential and green areas. Mayor of Islamabad and Chairman further said that the successful auction of a large number of plots at much higher prices on the first day of the auction process is the expression of trust by the citizens in Capital Development Authority. CDA will use all available resources for development of sectors and provision of civic amenities to the residents.

The committee will submit its recommendations to the CDA Board. The CDA Board is the competent authority to accord final approval to the recommendations after the conclusion of auction process.