Investors have flocked to the Capital Development Authority CDA’s open auction of plots, showcasing their genuine interest in acquiring diverse-sized residential and commercial plots in the heart of the capital city. The auction began on October 17 and will continue until October 20, with the venue set at the prestigious Jinnah Convention Centre.
Revenue Boost and Investor Participation
This CDA’s open auction of plots primary objectives are to augment revenue for the Capital Development Authority while encouraging investor participation in the real estate sector. With an array of enticing properties up for grabs, it is no surprise that investors are turning out significantly.
CDA’s Open Auction of Plots – Record-Breaking Opening Day
The inaugural day of the auction saw the sale of several high-value plots. Plot number 53F, located in I-8 Markaz and covering an impressive area of 666.67 square yards, was auctioned for a staggering Rs1.42 billion. Not far behind, plot 53D in the same locality fetched an impressive sum of Rs1.09 billion, setting the tone for what promises to be a highly competitive event.
Throughout the four-day auction, prime plots in the coveted Blue Area and the Northern Strip of E-11 will be up for bidding. Additionally, properties in Park Enclave Commercial and even petrol pumps and Class III shopping centers will be available for those looking to invest in the capital’s thriving commercial sector.
The public auction encompasses various offerings, from agro-farms and apartments to industrial plots. Unique to this auction is the inclusion of plots designated for fruit, vegetable, and meat shops in the bustling I-11 markets. Furthermore, for the first time, plots designated for hostels will be included in the auction, catering to the growing demand in the hospitality sector.
The Capital Development Authority’s four-day open auction is poised to be a significant event, attracting a diverse pool of investors keen to tap into the capital’s thriving real estate market. As the auction continues until October 20, all eyes will be on the Jinnah Convention Centre as more properties change hands and the capital’s real estate landscape evolves.