CDA all set to auction commercial plots in Islamabad.

ISLAMABAD -- The Capital Development Authority (CDA) is all set to auction commercial plots in Blue Area and other developed sectors of the federal capital, beginning on May 29, aiming to generate more revenue for the city and attract investors to participate in the auction.

Talking to reporter, an official in the authority urged interested investors to participate in the auction, which will take place at the Jinnah Convention Centre in Islamabad. The development is expected to have a significant impact on the commercial estate market in the capital city.

He said the auction in various sectors of the Islamabad capital territory would continue till May 31, adding that the authority has already publicized the auction schedule of various plots in different newspapers.

The official said that the real estate experts have announced it as a must-avail investment opportunity for investors nationwide and overseas. The participants investing in the public sale can possess commercial plots with 'legal protection.'

The details about the commercial plots located in the developed sectors of the federal capital included various centres, agro farms, petrol pumps, E-11 northern strip, Class-III shopping centre, Park Enclave commercial and Blue Area E-11/F-11, Canopy side, he added.

The participant, the official said that whoever submits full payment within 30 days of the bid...