islamabad - The Capital Development Authority auctioned 29 plots worth over 7.10 billion rupees in the 3-day auction.

The auction was held at the Jinnah Convention Centre here. According to the CDA officials, it has achieved its target as public at large participated in the auction process. Small plots got enthusiastic response while the response towards large plots was lukewarm. Auction was conducted under the supervision of Chairman Auction Committee, Financial Advisor/Member, CDA, Dr Fahad Haroon Aziz. On the 3rd day of auction, six commercial plots were auctioned against over 713 million rupees.

Chairman CDA Usman Akhtar Bajwa expressed his pleasure over the historic auction of commercial plots held on 27th, 28th and 29th March, 20018. Chairman CDA said that tireless efforts of Dr Fahad Haroon Aziz for conducting successful and transparent auction are laudable. Dr Fahad Haroon Aziz’s efforts have fetched investors back to CDA from competitive venues.

On third day of auction, six plots worth over 713,696,300 rupees were auctioned. Plot No. 3-B, Class-III Shopping Centre, Sector I-11/4 measuring 444.44 square yards was auctioned against Rs261,000 per square yard (total Rs. 115,998,840), plot No. 3-C, measuring 444.44 square yards, Sector I-11/4 was auctioned against Rs210,000 per square yard (total Rs09,33,32,400), plot No. 21, measuring 150 square yards,  Shahzad Town was auctioned against Rs266,000 per square yard (total Rs39,900,000), plot No. 5-J, size 3166.66 square yards, sector I-10/3 was auctioned against Rs70,000 per square yards (total Rs221,666,200) and Industrial Area Plot No. 05-H, size 3166.66 aquare yards was auctioned against 68,000 per square yards (total Rs215,332,880). Similarly, Plot No. 1-E, size 133.33 sq.uare yards, Margalla Town was auctioned against Rs206,000 per square yard (total Rs27,465,980).

Total amount of auctioned commercial plots on 2nd day of three days auction stood at approximately 2.76 billion against 12 plots. Eleven commercial plots worth over Rs3.63 billion were auctioned on the first day.

The successful grand auction of commercial plots was supervised by a committee specially constituted by Chairman, CDA Usman Akhtar Bajwa. Member Finance, CDA, Dr Fahad Aziz was heading the 11-member committee.

Member Estate Khushal Khan, Dy.D.G (Estate), Dy.D.G(Law), Deputy Financial Advisor-II, Director Public Relations, Director (UP), Director (RP), Director Estate Management-II and Deputy Director (Finance) of CDA were also the members of the committee.

Results of the auction will be presented before the CDA Board for approval. CDA Board is competent to accord approval to successful biddings.