Islamabad           -         Capital Development Authority (CDA) continued to receive enthusiastic response from investors on second day of auction of Blue Area commercial plots. Two days of auction proceedings witnessed highly encouraging response from a large number of investors who came at Jinnah Convention Centre, Islamabad to participate in auction proceedings. Participation of enthusiastic investors in a large number in auction proceedings reflects their confidence in CDA and Prime Minister’s Construction Package.

On second day of auction proceedings, Capital Development Authority considered bids of four plots amounting to Rs5.54 billion. On first day, CDA received auction bids against seven plots amounting to Rs11.7 billion. The auction committee, however, considered offers for four plots amounting to Rs7.25 billion which was equal to the expected proceeds from this auction as per CDA budget estimates. Collectively, during two days of auction proceedings, the auction committee received auction bids amounting to Rs17.24 billion, however, considered bids of eight plots amounting to Rs12.8 billion. The auction proceedings which started on July 15, 2020, will continue till July 17, 2020.

CDA has announced special incentives for this auction. CDA has constituted a committee consisting of 10 members to conduct the auction. Member Finance CDA is chairman of the committee while Member Estate, Member P & D, DFA-II, DG Law, Director Public Relations, Director Urban Planning, Director Regional Planning, Director EM-II and Director Finance are members of the committee.

Bids received will be presented before CDA Board which is competent forum for acceptance of bids.