The Capital Development Authority (CDA) achieved a major milestone on the first day of its three-day open auction, collecting a record Rs. 17.14 billion through the sale of commercial plots at the Jinnah Convention Centre.
CDA Chairman and Chief Commissioner Islamabad, Muhammad Ali Randhawa, personally supervised the auction proceedings on Tuesday to ensure full transparency and merit-based bidding. The auction, which runs from July 15 to 17, saw the sale of six high-value plots on its opening day, with bids exceeding reserve prices by 33 percent—reflecting strong investor confidence.
The standout transaction of the day was Plot No. 13 in Blue Area (G-8), which fetched around Rs. 7.24 billion. Plot No. 14 in the same location secured Rs. 4.16 billion, while Plot No. 12 was auctioned for Rs. 3.60 billion. In Sector I-14, Plot No. 3-A brought in nearly Rs. 749 million, Plot No. 3B sold for Rs. 709 million, and Plot No. 10A drew Rs. 669 million.
Senior CDA officials, including Member Estate Talat Mahmood, Member Finance Tahir Naeem, Member Engineering Syed Nafasat Raza, and Member Planning Dr. Khalid Hafiz, closely monitored the proceedings. A special oversight committee led by the Member Finance and comprising the Director Generals of Resource, Building Control, and Law was constituted to ensure procedural transparency.
Calling the auction a historic achievement, Chairman Randhawa told participants that investor turnout demonstrated the trust the business community places in CDA’s policies. He said the authority had worked relentlessly to restore Islamabad’s commercial appeal and emphasized that the revenue generated would be fully reinvested in the city’s development, beautification, and public services.
To encourage further investment, CDA announced incentives including a five percent rebate for buyers making full payments within one month, and an additional five percent rebate for those paying in US dollars.
Alongside the auction, the CDA organized an Investment Expo where departments such as Environment, Planning & Resource, Metropolitan Corporation Islamabad (MCI), and Sports & Culture set up information booths. A dedicated facilitation team was also deployed to guide and support investors during the process.
Chairman Randhawa also revealed that new residential sectors are in the pipeline to meet Islamabad’s rising housing demand. He reaffirmed CDA’s commitment to modernizing its operations in line with Prime Minister Shehbaz Sharif’s vision for a digital Pakistan. The authority, he said, is moving towards a fully paperless, cashless system and will soon roll out digital streamers and smart screens across the city.
The auction drew wide participation from the business community, including representatives from the Islamabad Chamber of Commerce, Pakistan Stock Exchange, traders, civil society, and the media. Randhawa extended special thanks to journalists from the National Press Club for their live coverage of the event.
The auction will continue on July 16 and 17, with a total of 46 plots and commercial units up for bidding in key locations such as Blue Area and other high-potential commercial zones.
