The Capital Development Authority (CDA) auctioned at least eight parcels of land it owned in the federal capital on Tuesday, raising at least Rs22 billion.
A commercial plot in Blue Area was reportedly auctioned for the highest-ever bid in CDA history when it was sold for a staggering Rs 3 million per square yard.
The civic authority began its three-day auction at the Jinnah Convention Center, and thanks to a fervent investor response, it was able to sell eight plots worth Rs22.1 billion in a single day.
According to a CDA source, the civic organization was anticipating earning roughly Rs20 billion from the three-day auction, but due to the “extremely good” reaction despite the dire economic climate
