Islamabad: The two-day auction conducted by the CDA was successfully concluded, wherein 18 plots of commercial land were sold, exceeding the impressive benchmark of PKR 3.82 billion. The auction featured commercial plots in “Capital Street Islamabad,” a 27-acre CDA project near Shakarparian and the Pak-China Friendship Centre.
Read to know more about: CDA Announces Auction Date for Plots on Food Street in Islamabad
This initiative aims to establish a prosperous commercial hub in the country’s capital, inspired by prominent locations such as JBR Dubai, City Walk Dubai, and Nizami Street Baku.
The auction provided twenty 500-square-foot plots reserved for cafes, restaurants, and other food establishments. A diverse group of investors, ranging from national and international food chains to individual investors from the food and beverage industry, actively participated in the bidding process, resulting in the successful sale of 18 plots for a substantial amount of PKR 3.82 billion.
A specialized committee, operating under the supervision of the CDA’s member finance, diligently managed the auction process. All bids received will be thoroughly examined before being presented to the authority’s board. The board, acting as the competent authority, will then objectively accept or reject the offers, guaranteeing a just and transparent allocation process for the plots in ‘Capital Street Islamabad.’
For the latest Real Estate News and Blogs, visit Realtorspk blogs.