CDA auctions commercial plots, earns Rs2.6bn

ISLAMABAD, May 21: The Capital Development Authority (CDA) received a good response from the public on the first day of the grand auction of commercial plots held at the Convention Centre, earning Rs2.6 billion.

A press release issued by the CDA said the civic authority had offered ten commercial plots for bidding, including shopping centre plots, commercial plots in different Marakiz and commercial plots in Blue Area.

According to the details issued by the CDA’s media wing, Plot No.10 located in F-11 Markaz (measuring 888.88 square yards) had the highest bid of Rs456,000 per square yard.

The lowest bid was made for Plot No.34, G-11 Markaz, measuring 1777.77 square yards at the rate of Rs181,000 per square yard.

The auction committee would submit its recommendations to the CDA Board, which is the final authority for the approval of these auctions.Source: