The Capital Development Authority (CDA) has made an official announcement regarding the dates for an open auction of 1-kanal plots in Shakarparian, Islamabad. These plots will be designated for eateries, cafes, and restaurants in the upcoming Capital Street Islamabad, which aims to replicate the charm of renowned walking streets like JBR Dubai, City Walk Dubai, and Nizami Street Baku.
The open auction is scheduled to take place on July 20th and 21st at the Jinnah Convention Center in Islamabad. A total of 20 plots, each measuring 500 square yards, will be available for interested participants.
To be eligible for participation in the auction, food businesses must be registered with the relevant authorities. International food businesses are also welcome to participate, provided they fulfill all the necessary formalities.
The CDA is offering a 10% rebate on the total payment if made within one month, along with an additional 5% rebate for payments made in USD.
Interested investors can acquire brochures from the CDA Facilitation Center, Directorate of Estate Management II, starting today. The brochures are also accessible on the CDA’s official website.
In order to facilitate investors, the authority has approved tenders worth Rs. 1 billion for dedicated regeneration efforts in the area. Infrastructure development and other essential facilities will be enhanced within the next six months.
Under the terms of the auction, advance tax will be deducted on a pro-rata basis, and successful bidders will be required to make a 25% payment within 30 days of bid acceptance. Additionally, one-third of the plot area will be reserved for art and craft, contributing to the cultural ambiance of the street.
Pedestrian boulevards and streets will be an integral part of the design, ensuring a pleasant and inviting environment for visitors.
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