A total of 12 plots were sold in the three-day auction at the Jinnah Convention Center
CDA earned an impressive 17.04 billion rupees through the sale of 12 commercial plots in the New Blue Area in the federal capital. The auction for the plots took place at the Jinnah convention center over three days. CDA’s board will review and give approval for the bids.
CDA has earned more revenue than expected and the funds are expected to be used for new infrastructure projects in the Islamabad Capital Territory (ICT). Federal Minister for Information Shibli Faraz took to twitter to express his delight on the occasion and said that the auction shows the investors’ confidence in the current government.
The CDA chairman Aamer Ali Ahmed appreciated the investor for their confidence in policies of the Government and CDA. He assured them that the matters pertaining to the sale will run smoothly. “It will not only generate an economic activity in the federal capital but will also create new job opportunities in Islamabad,” he said.
The New Blue Area, or Blue Area Phase II is located adjacent to the Fatima Jinnah Park. A number of plots have been previously sold in the area and construction is underway.