Islamabad: The Capital Development Authority’s (CDA) second day of commercial property auctions generated substantial investor interest, with sales exceeding PKR 12.45 billion. The event, taking place at the Gandhara Citizen Centre in F-9 Park, featured high-profile transactions, including the sale of a prime hotel plot on Garden Avenue for PKR 1.48 billion.

According to Zameen.Com, the auction began on October 1 and concluded on October 3, showcasing a variety of properties including plots for motels, apartments, and shopping centers located across strategic locations in Islamabad. The auction process is closely monitored by a committee led by CDA Member Finance Tahir Naeem and Estate Management-II Director Tabinda Tariq, ensuring transparency and fairness.

Investors were drawn to the auction by attractive incentives offered by the CDA, such as a two-year payment plan, the ability to take possession of plots after paying 75% of the price, and discounts of up to 15% for full payments or payments made in USD. Each bid is subject to review before receiving final approval from the CDA Board, a step that underscores the rigorous standards and commitment to due diligence at the heart of the auction process.