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The Capital Development Authority (CDA) successfully raised Rs. 17.14 billion on the first day of its three-day open auction, marking a significant milestone in Islamabad’s commercial real estate activity. The auction, held under the direct supervision of CDA Chairman and Chief Commissioner Islamabad Muhammad Ali Randhawa, reflects the Authority’s renewed efforts to promote transparent investment opportunities and sustainable urban development.
Landmark Sales in Blue Area
Among the most notable transactions was Plot No. 13 in the Blue Area (G-8), which fetched an impressive Rs. 7.24 billion, making it the single largest sale of the day. The Blue Area, being Islamabad’s commercial hub, continues to attract strong investor interest due to its central location and high business potential.
Other high-value plots auctioned in the same area include:
- Plot No. 14 (Blue Area, G-8) – Sold for approximately Rs. 4.16 billion
- Plot No. 12 (Blue Area) – Sold for around Rs. 3.60 billion
These successful bids reinforce the Blue Area’s stature as prime real estate in the capital city, particularly for high-end commercial ventures.
I-14 Sector Also Sees Active Bidding
Beyond the Blue Area, three commercial plots in Sector I-14 were also auctioned on the first day:
- Plot No. 3-A – Sold for Rs. 749.32 million
- Plot No. 3-B – Sold for Rs. 709.32 million
- Plot No. 10-A – Sold for Rs. 669.32 million
These figures highlight increasing investor interest in developing sectors such as I-14, which is fast becoming a sought-after location for medium-scale commercial developments.
Transparent Process Backed by Senior Oversight
In line with CDA’s commitment to transparency and investor confidence, the auction process was personally monitored by senior officials of the CDA board. These included:
- Talat Mehmood – Member Estate
- Tahir Naeem – Member Finance
- Syed Naffasat Raza – Member Engineering
- Dr. Khalid Hafeez – Member Planning
To ensure strict procedural compliance, a dedicated committee led by Member Finance Tahir Naeem was also formed. This committee comprised senior figures such as:
- DG Resource
- DG Building Control
- DG Law
- And other relevant officers
The presence of these high-level officials was intended to prevent irregularities, foster trust, and uphold institutional credibility during the bidding process.
Auction to Continue with More High-Value Plots
The open auction will continue on July 16 and 17, featuring a wider range of commercial plots from different sectors of Islamabad, including:
- Additional plots in Blue Area
- Retail shops in the Blue Area Parking Plaza
- Other commercial sites across key development zones
A total of 46 plots and shops have been presented for bidding during the three-day event, which is expected to generate substantial revenue for the city’s development budget.
Investment Expo at Jinnah Convention Centre
In conjunction with the auction, the CDA also organized an Investment Expo at the Jinnah Convention Centre to educate, inform, and support potential investors. The Expo featured dedicated information booths from various departments, including:
- Environment Directorate
- Metropolitan Corporation Islamabad (MCI)
- Sports & Culture Directorate
These wings provided valuable information regarding plot usage guidelines, infrastructure plans, environmental compliance, and recreational facilities associated with upcoming development projects.
Incentives Offered to Attract Domestic and Foreign Investment
To further incentivize participation, the CDA announced attractive payment concessions, including:
- 5% discount for lump-sum payments made within one month
- Additional 5% concession for payments made in US dollars
These incentives are aimed at attracting both local investors and overseas Pakistanis, with the dual goal of boosting foreign currency inflow and ensuring early project financing.
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Revenue to Fund Islamabad’s Urban Development
Chairman Muhammad Ali Randhawa stated that all funds raised through the auction will be exclusively allocated for the development of Islamabad. Planned uses include:
- Infrastructure improvements
- Sector development
- Beautification and green space enhancement
- Upgrades to roads, parks, and public facilities
“This auction is not just about raising revenue; it’s about channeling investment into the city’s long-term growth and livability,” Randhawa affirmed during the opening day.
