ISLAMABAD: The Capital Development Authority (CDA), on Wednesday, successfully auctioned six commercial plots for over 12.45 billion rupees during its ongoing auction at the Gandhara Citizen Centre, F-9 Park, Islamabad.

The auction, which began on October 1, will continue until October 3.

On the second day, Plot No 8, earmarked for a hotel on Garden Avenue, was sold for a staggering 1.48 billion rupees. The auction offers a variety of commercial plots, including those designated for motels, apartments, and shopping centres in key commercial zones of Islamabad.

Supervised by a committee led by CDA Member Finance Tahir Naeem and Estate Management-II Director Tabinda Tariq, the auction provides investors with attractive incentives. These include an extended two-year payment plan, plot possession upon 75 per cent payment, and discounts of up to 15 per cent for lump sum or US dollar payments. All bids will undergo scrutiny before final approval by the CDA Board.

Copyright Business Recorder, 2024