ISLAMABAD: The city managers fetched over seven billion rupees in the three-day auction of commercial plots which concluded on Thursday. The investors showed more interest in small commercial plots.

As many as 45 plots were put on sale and 29 of them were auctioned. However, the investors did not show any interest in big commercial plots located in Blue Area.

Three commercial plots in Blue Area, one apartment plot in F-10 and another apartment plot and one hospital plot in G-11 were also part of the auction.

But the investors did not take an interest in them. All four class-three shopping centre plots at I-14 also could not get attention of the buyers. “CDA achieved its target and auctioned 29 plots worth over Rs7.10 billion. Public at large participated and appreciated the well-managed auction process which led to an open, transparent and successful auction,” said a statement issued by the CDA on Thursday.

It said the auction was conducted under the supervision of Chairman Auction Committee Financial Adviser/Member CDA Dr Fahad Haroon Aziz.

Chairman CDA Usman Akhtar Bajwa expressed his pleasure over the historic auction of commercial plots. He said tireless efforts made by Dr Aziz for conducting a successful and transparent auction were laudable.

But speaking to Dawn, President Islamabad Developers’ Association Chaudhry Naseer Ahmed expressed concerns over the lukewarm response of investors in the major plots. — A Reporter