CDA to hold auction of commercial plots on September 21.

Islamabad: The Capital Development Authority (CDA) is going to hold an auction of commercial plots on September 21, 22, and 23.

The auction is being held in line with the policy of the government for the promotion of the construction industry in the country. This will be the second auction of commercial plots CDA is going to hold within a short period of three months.

In July, CDA held a historic auction of commercial plots, the investors expressed overwhelming enthusiasm and CDA auctioned 12 plots of Blue Area New vision against Rs17.4 billion. The upcoming auction is expected to further cement the confidence of investors in investment-friendly policies of the government in general and CDA investment-friendly policies in particular. During three days of auction proceedings, Capital Development Authority will offer commercial plots from various developed sectors of Islamabad.

Plots from Blue Area New Vision will also be offered for auction. Similarly, industrial plots, agro farm plots, apartment plots, and class III shopping center plots will also be offered for auction. Plots from G-10 Markaz, I-8 Markaz, Diplomatic Enclave, F-10 Markaz, Industrial Triangle Kahuta, and various class III shopping centers including G-9/1, G-9/2, G-10/3, G-11/4, and I-11/4 will be offered during the upcoming auction.

The CDA spokesman said the incumbent CDA Administration is burning the midnight oil to herald implementation of government policies regarding the promotion of the construction industry and restoration of investors’ confidence. The authority also announced special incentives for investors for the previous auction of Blue Area New Vision plots. CDA held a two days long session with builders and developers last week and gave ears to all their problems to find solutions.

Consequently, CDA announced several relief measures for builders and investors. The upcoming auction will prove to be another milestone in this direction. The auction brochures are available at One Window Operation Directorate and designated branches of different banks. CDA has constituted a committee headed by Member Finance to conduct auction proceedings.