ISLAMABAD: The city managers on Tuesday briefed businessmen, mainly belonging to the hospitality sector, about the two five-star hotel plots in sector F-5, being offered for auction on December 17.

A civic agency team headed by Chairman CDA Muhammad Ali Randhawa met a delegation of investors at the CDA Headquarters on Tuesday to discuss the open auction of two hotel plots in Islamabad.

The CDA chief highlighted the critical need for international-standard five-star hotels in Islamabad to cater to the growing demand for hospitality services, according to the press release issued by the civic agency.

The chairman stressed that this initiative would play a pivotal role in enhancing the city’s capacity to host national and international events, boosting the local economy and global recognition of Islamabad as a premier destination.

He said the CDA was offering five-star hotel plots for open auction, marking a significant opportunity to promote the hotel industry and meet the increasing demands for high-quality accommodations in the city.

The investors were given a detailed briefing regarding the specific hotel plots being offered for auction, plots number 6 and 8, located in Sector F-5, one of Islamabad’s most sought-after locations.

These plots present an ideal opportunity for investors to develop world-class hotels, commercial centres, and service apartments, which will not only cater to the growing demand for luxury accommodation but also contribute to the expansion of Islamabad’s business and tourism sectors, it claimed.

The CDA head further outlined the investor-friendly terms that have been introduced to encourage participation in the auction.

The hotel plots will be available to investors on easy instalment plans, with payments spread over two years. Additionally, possession of the plots will be granted upon 75 per cent payment, and an extra 10pc discount will be offered for upfront payment.

The meeting also provided a platform for investors to share their proposals and suggestions regarding the auction of these commercial plots. The investors expressed the need for more facilities to further stimulate participation and encourage more investment in Islamabad’s economy.

The press release said that the chairman assured the investors that their suggestions would be carefully reviewed, and viable suggestions would be presented for approval to the CDA board in the near future.

He said that the initiative of the civic agency was expected to significantly impact Islamabad’s hospitality industry, bringing state-of-the-art facilities to the city and further establishing Islamabad as a prime destination for international business and tourism.

Published in Dawn, December 4th, 2024