Islamabad: The Capital Development Authority (CDA) auction witnessed a surge in demand for small commercial plots.
A 150-square-foot plot designated for meat, fruit, and vegetable shops was recently auctioned for a whopping PKR 50 million. Additionally, eight other commercial plots were successfully auctioned in the first two days, amassing PKR 10.9 billion. The civic body included these 150-square-foot plots in response to the increasing demands of investors.
The urban planning wing of the CDA had specifically allocated three markets in sectors G-11, F-6, and F-8 for fruit, vegetable, and meat shops. each accommodating six 150-square-foot plots. This offering ignited intense competition in the business community, with all F-6 sector shops sold. Similarly, in the F-8 Sector, three out of six plots were auctioned successfully.
The auction (17th Oct-20th Oct) was a huge success. The civic body grappling with financial constraints collected a massive sum by auctioning plots in different sectors. For the latest Real Estate News and Blogs, visit Realtorspk blogs.