Transparent and Competitive Auction Leads to Record Sales
Capital Development Authority (CDA) recently concluded its highly successful three-day auction for commercial plots in Islamabad, generating impressive results. With a total of 17 plots sold, the auction garnered a remarkable amount of Rs 19.325 billion on the final day.
Auction Committee Ensures Transparency and Effectiveness
Overseeing the auction was the esteemed auction committee, led by CDA’s Member of Finance. This dedicated committee meticulously organized the event, implementing measures to maintain transparency and foster a competitive atmosphere. Their efforts successfully attracted a higher number of investors, resulting in an increased level of participation and an expanded range of choices for the bidders.
Chairman CDA Lauds Transparency and Success of the Auction
Chairman CDA, Capt. (Retd.) Noor-ul-Amin Mengal, expressed his appreciation for the effective steps taken by the auction committee, emphasizing the transparency and success achieved in conducting a public auction of this magnitude. The chairman commended the committee’s dedication in ensuring a fair and unbiased process, further solidifying the credibility of the auction.
READ MORE: Toyota Teases Next Generation GR Model at 24 Hours of Le Mans Centenary
Investor Interest Focused on Diverse Commercial Areas
Throughout the three-day auction, commercial plots of various categories situated in different commercial areas of Islamabad garnered significant attention from investors. This indicates the growing interest and confidence in the potential of these areas for business and investment opportunities.
Proceeds Allocated for City Development
The CDA administration has announced that the proceeds from the auction will be utilized to expedite the city’s development activities. Particularly, the funds will be allocated towards long-awaited development projects, prioritizing their completion and uplifting the city’s infrastructure.
By successfully concluding the commercial plots auction, the Capital Development Authority has not only achieved record sales but has also bolstered investor confidence in Islamabad’s commercial real estate market. The transparent and competitive atmosphere, fostered by the auction committee, played a vital role in attracting a diverse range of investors and ensuring a fair bidding process. With the generated funds, the CDA is now well-equipped to accelerate the city’s development activities and meet the demands of a rapidly growing urban landscape.
 recently concluded its highly successful three-day auction for commercial plots in Islamabad, ge){kind=link}