Islamabad: The Capital Development Authority (CDA) achieved a significant financial milestone on the first day of its three-day auction, receiving the highest bids of PKR 7.96 billion for four commercial plots.
As per the details provided by the CDA’s auction committee, four of the eleven commercial plots presented at various locations received responses. The plots included one each in the Blue Area and I-14 Markaz, along with two plots situated in Markaz I-8.
The auction committee received the highest bid of PKR 4.53 billion for plot number 9, located in Sector G-8 of the Blue Area, at the end of the first day of proceedings. This 2666.66 square yards plot has received an outstanding bid of PKR 1.7 million per square yard, which indicates its immense value and demand in the market.
Two plots were auctioned in I-8 Markaz, and the results are as follows:
- The first plot, measuring 800 square yards, obtained the highest bid of PKR 1.825 million and was sold for PKR 1.46 billion.
- The second plot, measuring 666.66 square yards, was auctioned at PKR 1.725 million per square yard, resulting in a total price of PKR 1.49 billion.
An auction for a commercial plot measuring 533.33 square yards in I-14 Markaz was successfully concluded at a whopping price of PKR 0.653 billion, equivalent to Rs 1.22 million per square yard.
The Capital Development Authority (CDA) is gearing up to present 24 more commercial plots at prime locations over the next two days, making it an incredible opportunity for investors looking to invest in high-value real estate. For the latest Real Estate News and Blogs, visit Realtorspk blogs.