CDA auctions off all plots in Islamabad’s sector C-14 to overseas Pakistanis

ISLAMABAD: In a ground breaking development, The Capital Development Authority (CDA) has announced that all 236 residential plots in Islamabad’s Sector C-14 have been successfully auctioned off to overseas Pakistanis.

The plots were priced at Rs. 60 million per kanal, and the CDA is expected to earn about Rs. 14 billion in the next 10 months. While there was an open auction for both local and overseas investors, priority was given to expats due to their foreign currency remittances.

This move should generate a boost to the economy, and it is heartening to see CDA become more proactive in soliciting investment from overseas Pakistanis.

The entire process of e-balloting was transparent and fair, executed and conducted through Nazlin Pakistan. There were over 1,700 applications received from local applicants, including around 550 from overseas Pakistanis, showing the interest in these plots.

A considerable number of applicants could not obtain plots, but the CDA plans to launch a second auction further in other sectors to increase revenue. Opportunities in the future will likely include sectors C-13, C-15, Park Enclave, and include over 700 plots in the Defence Housing Authority (DHA), acquired by an exchange of land last year.

CDA Chairman Muhammad Ali Randhawa presided over the e-balloting, ensured the process was aligned by Nadra. The successful applicants will be listed on the CDA’s website and the social media pages, and plots that are unpaid will be assigned to wait-listed investors.

Randhawa thanked the participants for their confidence and assured that development in Sector C-14 will continue with projects planned for new sectors. This is a positive development for the city, and time will tell if it pays off.² The CDA’s efforts also provide a