The Capital Development Authority (CDA) recently held an auction for commercial plots in Islamabad, and it’s been nothing short of remarkable. In this article, we’ll explore the highlights of the auction and its significance for investors and the city’s development.
Record-Breaking Sale: On the third day of the auction, a small plot of around 150 square feet for fruit, vegetable, and meat trade was sold for a staggering Rs50 million, showcasing the intense competition among investors.
Small Market Allocations: The CDA’s planning wing had designated three small markets in F-6, F-8, and G-11 exclusively for fruit, vegetable, and meat shops, each comprising six plots of 150 square feet.
Investor Enthusiasm: All shops in the F-6 sector were auctioned, and three out of six at the F-8 market found buyers, emphasizing the investors’ keen interest in these small commercial plots.
CDA’s Revenue Source: The CDA heavily relies on land auctions to meet its development and non-development expenses. This auction is expected to provide a much-needed financial boost.
Need for Diversification: Some officials within the CDA have raised concerns about the sustainability of relying solely on land