ISLAMABAD: Investors are demonstrating a strong interest in the Capital Development Authority’s (CDA) four-day open auction of diverse-sized residential and commercial plots in the capital.

The auction is set to run until October 20 at the Jinnah Convention Centre.

The primary objectives are to increase revenue for the department and encourage investor participation in the auction.

On the inaugural day, a plot identified as 53F, covering an area of 666.67 square yards in I-8 Markaz, was auctioned for an impressive Rs1.42 billion. Plot number 53D, also located in I-8 Markaz, was sold for an amount totaling Rs1.09 billion.

During the auction, plots located in Blue Area and Northern Strip of E-11 will also be up for bid.

Throughout the four-day auction, Park Enclave Commercial as well as petrol pumps and Class III shopping centres will also be up for bidding.

The public auction will include a variety of offerings, such as agro-farms, apartments and industrial plots. In this auction, plots designated for fruit, vegetable and meat shops in the I-11 markets will be available for sale.

Additionally, it marks the first time that plots designated for hostels will be included in the auction.

Published in Dawn, October 18th, 2023