The Capital Development Authority (CDA) concluded a highly successful three-day open auction of commercial plots on Thursday, generating a staggering Rs19.56 billion through the sale of eight plots and four retail shops—marking one of the highest-yielding auctions in the authority’s history.
The auction witnessed robust investor participation and competitive bidding, underscoring growing confidence in Islamabad’s commercial real estate potential. The proceedings were personally overseen by CDA Chairman and Chief Commissioner Islamabad, Muhammad Ali Randhawa, who ensured full transparency and stringent oversight throughout the event.
Commenting on the auction’s outcome, Randhawa stated, “The overwhelming response from investors demonstrates their trust in CDA’s transparent auction process and Islamabad’s promising investment climate.”
On the final day, strong interest was seen in retail units at the Blue Area Parking Plaza, where Shop No. 8A fetched Rs145.7 million, 10A went for Rs143.2 million, 12A was sold for Rs146.7 million, and 8C closed at Rs94.3 million.
Significant sales were recorded earlier as well. On day two, Plot No. 20 in Sector I-14 Markaz, designated for a petrol station, was auctioned for Rs1.64 billion, while Plot No. 1-E in Sector F-11/1 was sold for Rs251.3 million.
The first day saw the highest bids, with Plot No. 13 in Blue Area (G-8) drawing a whopping Rs7.24 billion, Plot No. 14 fetching Rs4.16 billion, and Plot No. 12 going for Rs3.60 billion. Additional high-value sales in Sector I-14 included Plot 3-A at Rs749.32 million, Plot 3B at Rs709.32 million, and Plot 10A at Rs669.32 million.
CDA officials noted that commercial plots and shops from a variety of categories were offered through an open and transparent bidding process. Senior officials—Member Estate Talat Mehmood, Member Finance Tahir Naeem, Member Engineering Syed Nafasat Raza, and Member Planning Dr. Khalid Hafeez—monitored the auction to ensure fairness and efficiency.
To engage potential investors, CDA also organized an Investment Expo at the Jinnah Convention Centre, featuring information desks from the Environment Wing, Metropolitan Corporation Islamabad (MCI), and the Sports and Culture Directorate, offering on-ground assistance and guidance.
Incentives were introduced to promote rapid investment, including a 5% discount on full payments made within a month and an additional 5% discount for lump-sum payments in US dollars.
Randhawa emphasized that the auction proceeds would be channeled into Islamabad’s infrastructure and beautification projects. “The revenue generated from this auction will be utilized for Islamabad’s development,” he said. “This includes road improvements, infrastructure upgrades, and efforts to make Islamabad a modern and model capital.”
Good effort taken by CDA by transparency in auction activity and providing incentives to inverters. Other local bodies and development authorities should adopt this pattern to earn additional funds for their areas