F-10 plot auction fetches Rs 2.7b

Saad Sultan
ISLAMABAD - The second day of auction was still in process when the total figure reached around Rs 6.72 billion, when Capital Development Authority (CDA) succeeded in selling 18 more plots despite threats of boycotts from some influential builders.  A controversial plot of F-10 (11750 Sq.yds) with the token money of 50 million proved to be the climax of the auction when it alone brought maximum amount of Rs 2.78 billion to CDA. The status of the commercial plot was changed to residential on the directives of the Islamabad High Court. 
Earlier 6 commercial plots located in different centres of developed sectors, class three shopping centres and commercial plots of Blue Area were auctioned on the first day of auction when CDA had fetched Rs. 2.68 billion.
A large number of bidders participated in the auction process. The hall at Jinnah Convention remained teeming with the bidders during the two-day auction. Chairman Maroof Afzal said, “The has auction fetched much higher prices as compared to that of the previous auctions, which testifies investors’ confidence in CDA’s transparent and investment friendly policies.”
Margala Town remained the theme of auction with sale of 14 plots alone on the second day.

on epaper page 2
plot auction fetches rs
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