New Blue Area project in Islamabad has received an investment of more than Rs. 12 billion in just 2 days of the auction.
Capital Development Authority (CDA) has organised a three-day auction from July 15 to 17 for the commercial plots of the New Blue Area situated on Jinnah Avenue in front of the F-9 Park.
So far, eight commercial plots of different sizes were auctioned that were sold for more than Rs. 12.79 billion.
The spokesperson of CDA said “the New Blue Area project is evidence of Prime Minister (PM) Imran Khan efforts to promote the construction industry in Pakistan. The interest of the investors in the auction process shows their confidence in the business-friendly policies of the Federal Government.”
The authorities are expecting to receive a total investment of Rs. 15 billion by the end of the three-day auction process, which is ending today.
The investment that will be collected through the auction will be used in different projects for the betterment of Islamabad residents.
On 1 March, PM Imran Khan had visited the proposed site of the New Blue Area project before formally launching the project.
PM Imran Khan had formally approved the plan of the New Blue Area project in February after CDA allocated 170 Kanals for the project on Jinnah Avenue.