Monday, June 17, 2024

CDA Earns Massive Rs. 22.1 Billion by Auctioning Only 8 Commercial Plots

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

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