Islamabad: The Capital Development Authority (CDA) revealed plans to conduct another auction. Commercial plots will be auctioned, including a four-acre, five-star hotel plot.
The decision came after the tremendous success of the auction held in October, raking up PKR 12.9 billion. CDA Chairman Anwarul Haq chaired a meeting and directed the estate wing to prepare an inventory of the commercial plots for the upcoming auction. The chairman further directed to include only 25 commercial plots out of 50 for the said auction.
The prime focus of the auction will be a plot situated near the Marriot Hotel. The strategic location of the plot adds to its value and makes it worth investing in for a five-star hotel.
The civic body needs approval from the government to proceed with the auction. Once the federal government gives a green signal, the CDA will organize the auction in December.