ISLAMABAD: The Capital Development Authority (CDA) is optimistic about the outcome of upcoming auction of commercial plots as well as shops in Blue Area.

The commercial plots of various sizes are located in various areas including Blue Area and other Marakaz (commercial centres of Islamabad), where plots of class-three shopping centres would also be auctioned.

According to CDA, the civic agency will sell shops of Blue Area Parking Plaza.

Though official date of auction has not been announced, sources said there were chances that auction would be held next month.

Meanwhile, a meeting of the auction committee held on Tuesday at the CDA Headquarters with CDA chief Mohammad Ali Randhawa in the chair. The meeting was attended by members of the CDA Board as well as members of the Auction Committee. The chair directed that attractive and lucrative investment opportunities should be provided to investors for the upcoming auction in Islamabad.

During a briefing, it was apprised that prime and business-friendly plots have been selected for upcoming open auction of commercial plots. It was further highlighted that the auction will feature a variety of investment opportunities, including commercial plots, Class III shopping centers, industrial plots, hotel plots, apartment plots and others.

Additionally, investors will be facilitated with easy installments payment plan.

The meeting also decided to include commercial shops in the Blue Area Parking Plaza in the upcoming auction for investment purposes.

During the briefing, it was informed that the commercial shops in the parking plaza are ready for immediate business operations.

Sources said that installment plans of two years would not be apply on shops they are ready for possession, ratherinvestors will likely be given six months time for clearing dues of the shops.

A press release said that CDA chairman had instructed that the market value of the Blue Area Parking Plaza shops should be carefully assessed. He emphasised that investors should be provided with complete support and maximum facilitation for participation in the auction process.

Published in Dawn, January 29th, 2025

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