City Reporter
ISLAMABAD: The Capital Development Authority (CDA) accomplished a highly successful auction, selling 9 plots spanning 27 acres in the prestigious Capital Street Islamabad project. Drawing inspiration from iconic urban developments like JBR Dubai, City Walk Dubai, and Military Street Baku, this modern urban project is set to become a vibrant addition to Islamabad’s cityscape. The auction, overseen by the CDA’s Auction Committee, attracted enthusiastic participation from investors eager to acquire prime real estate in the capital city.
Located near the Shakarparian China Friendship Center, the Capital Street Islamabad project promises to redefine urban living with a dynamic mix of commercial and recreational spaces. The CDA offered 500 square yards sized plots for auction, exclusively earmarked for cafes, restaurants, and bistros.
“The response from investors on the first day of the auction was overwhelming,” stated the head of the CDA’s Auction Committee. “The keen interest and active bidding demonstrate the immense potential of the Capital Street project as a lucrative investment opportunity.”
On the inaugural day of the auction, a total of 9 plots were successfully sold for an impressive combined sum of 1.82 billion PKR. Notably, Plot No. 1 commanded a winning bid of 208.5 million PKR, closely followed by Plot No. 2 at 198.5 million PKR. Plot No. 3 and Plot No. 4 were purchased for 168.5 million PKR and 165 million PKR, respectively. Plot No. 6 was acquired for 153 million PKR, while Plot No. 7 witnessed a significant bid of 266.5 million PKR. Furthermore, Plot No. 10 and Plot No. 5 were auctioned for 265 million PKR and 179 million PKR, respectively, with Plot No. 11 concluding the day at 230 million PKR.
The auction process will continue on July 21, 2023, providing additional opportunities for investors to partake in this prestigious project.
Capital Street Islamabad promises to redefine the city’s landscape with its unique blend of world-class amenities and modern urban planning. By integrating elements inspired by JBR Dubai, City Walk Dubai, and Military Street Baku, the project aims to create a vibrant and lively environment for residents and visitors alike.
The auction committee will meticulously verify all received bids before presenting them to the CDA board for final approval. Each bid will be subject to thorough review and may be accepted or rejected based on the committee’s recommendations.
Investors and stakeholders keen on being part of this landmark project are eagerly anticipating the continuation of the auction on July 21, 2023. As the bids unfold, Capital Street Islamabad is poised to pave the way for an exciting new chapter in the city’s urban development.
