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CDA has received first installments of auctioned plots before expiry of closing date

Islamabad; September 13, 2020: Capital Development Authority (CDA) has received first installments for all plots in advance before the expiry of closing date. This is indeed encouraging for the authority and the City. The response from investors reflects their trust in CDA and policies of the government regarding construction industry. Over Rs.7 billion have been received in this regard. It is pertinent to mention that initially CDA had targeted 7 billion as total recovery in this auction. However, the overwhelming response led to a situation where just in first installment this amount has been recovered.

It is also significant that two developers have made full payments. Development work for services provision to new blue area likely to start from next week whereas grid station is already ready and work on one pedestrian crossing has also started.

The funds thus generated will be spent on uplift of the city for which planning and initial works have already started. Road repair, sidewalks, street lights and drains will be rehabilitated on emergent basis. Work on several projects is near completion while several more are likely to start shortly.