New Blue Area project in Islamabad has received an investment of quite Rs. 12 billion in only 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 ahead of the F-9 Park.
So far, eight commercial plots of various sizes were auctioned that were sold for quite Rs. 12.79 billion.
The spokesperson of CDA said “the New Blue Area project is evidence of Prime Minister (PM) Imran Khan efforts to market the development industry in Pakistan. The interest of the investors within the auction process shows their confidence within the business-friendly policies of the federal .”
The authorities expect to receive a complete investment of Rs. 15 billion by the top of the three-day auction process, which is ending today.
The investment which will be collected through the auction are going to be utilized 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.