Daily Times

The Capital Development Authority (CDA) is planning to hold auction of commercial and residential plots at different sectors of the city.

Talking to APP, senior official of CDA said that estate and planning wings of the civic body had been working on identifying vacant plots for auctions.

Meanwhile, members of the CDA board also held an informal meeting last week to get a briefing on plots which could be sold in the upcoming auction.

The sources said around 40 plots, including commercial plots in Blue Area, Park Enclave, Northern Strip of E-11 and petrol pump plot in D-12, also came under discussion. Similarly, some apartment plots in F-10 were also considered.

A source said in the next meeting of the CDA board, the estate management would get the final approval and then, the CDA would move on towards holding the auction.

He said the CDA was in dire need of funds as projects worth over Rs 50 billion such as Margalla Road, Bhara Kahu bypass, I.J. Principal Road expansion, Nilor Heights, Expressway expansion, Rawal Dam and 7th Avenue, and development of several residential sectors were underway. Besides, the CDA has to pay salaries every month as it has over 16,000 employees, he said.

“We are hopeful that our upcoming auction will be successful as we are going to offer plots located at the best places. Even, investors have been contacting us for the last few months to get the date of auction,” said an officer of CDA.