Auction of 10 commercial plots fetches Rs8.58b to CDA

Islamabad

The auction of 10 commercial plots on second day of auction being conducted by the Capital Development Authority (CDA) on Wednesday fetched Rs8.58 billion.

The auction will continue for third day on May 18, 2017 as well. The auction process is being held at Jinnah Convention Centre.

The auctioned plots include Plot No. 09, size 160 square yards, Sector F-6/2 against Rs.575,000/- per square yards total Rs.92,000,000/-, Plot No.10, size 160.00 square yards, sector F-6/2 against 677,000/- per square yards, total 108,320,000/-, Plot No.12, size 233.33 square yards Sector F-8/3 against 600,000/- per square yards, total 139,998,000/-, plot No.03, size 2666.67, Sector Blue Area (FG-8) against 925,000/- per square yards, total 2,466,669,750/-, plot No.04, size 2666.67, sector Blue Area(FG-8) against 873,000/- per square yards, total 2,328,002,910/-, plot No.18, size 711.11, Sector D-12 Markaz against 410,000/- per square yards, total 291,510,000/- rupees, plot No.18-A, size 711.11, Sector D-12 Markaz against 365,000/- per square yards, total 259,515,000/-, plot No.03, size 1600 square yards, sector D-12 Markaz against 303,000/- per square yards, total 484,800,000/-, plot No.14-C, size 4778 square yards for Apartment, sector G-5 Diplomatic Enclave against 375,000/- per square yards, total 1,791,750,000/- and plot No.12, size 4800 square yards sector G-11 for economy flats against 129,000/- per square yards, total 619,200,000/- were auctioned.

The Capital Development Authority (CDA) on Tuesday, the first day of auction, had auctioned 15 residential plots worth of Rs500 million

Total amount of auctioned commercial plots on second day of three-day auction stands at Rs8,581,850,910. Another 33 commercial plots would be offered for auction on Thursday.

Mayor of Islamabad and Chairman, CDA Shiekh Anser Aziz while felicitating the auction team for fruitful results of their efforts has said that extraordinary efforts of Member Finance Dr. Fahad Haroon Aziz have resulted in exceptional response from investors.

A nine member committee headed by Member Finance, CDA Dr. Fahad Aziz supervised the auction proceedings. Member (Planning), deputy director general (Finance), deputy director general (LE), deputy director general (Law), director (UP), Director (RP), director Public Relations and director Estate Management-II of CDA are members of the auction committee.

The committee will submit its recommendations to the CDA Board. The CDA Board is the competent authority to accord final approval to the recommendations after the conclusion of auction process.

Article source: https://www.thenews.com.pk/print/205026-Auction-of-10-commercial-plots-fetches-Rs858b-to-CDA