ISLAMABAD: The Capital Development Authority (CDA) will be auctioning commercial plots in various developed sectors of the federal capital in a bid to generate revenue for the development of Islamabad.
Talking to APP, a CDA official urged interested investors to participate in the auction, which is set to take place at the Jinnah Convention Centre in Islamabad from May 3-5. The move is expected to have a significant impact on the commercial estate market in the federal capital.
He said the auction schedule of various plots has already been published in different newspapers.
‘A must-avail investment opportunity’
The official said that according to real estate experts, this auction is a must-avail investment opportunity for investors nationwide and overseas. Those investing in the public sale could possess commercial plots with ‘legal protection’, he added.
CDA’s commercial plots include various centres, agro farms, E-11 northern strip, petrol pumps, Class-III shopping centre, Park Enclave commercial, Canopy side and Blue Area E-11/F-11.
The official said that a 10 percent rebate on the remaining amount would be offered to whoever submits full payment within 30 days of the bid acceptance letter.
—APP
