Chairman CDA Meets With Investors To Discuss Open Auction Of Hotel Plots

Chairman Capital Development Authority (CDA), Muhammad Ali Randhawa, on Tuesday met with a delegation of investors here to discuss the upcoming open auction of prime hotel plots in Islamabad

ISLAMABAD, (UrduPoint / Pakistan Point News - 3rd Dec, 2024) Chairman Capital Development Authority (CDA), Muhammad Ali Randhawa, on Tuesday met with a delegation of investors here to discuss the upcoming open auction of prime hotel plots in Islamabad.

During the meeting, Chairman Muhammad Ali Randhawa highlighted the critical need for international-standard five-star hotels in Islamabad to cater to the growing demand for hospitality services.

He emphasized that this initiative would play a pivotal role in enhancing the city’s capacity to host national and international events, and tourism, thereby boosting the local economy and global recognition of Islamabad as a premier destination.

To address this, CDA is offering five-star hotel plots for open auction, marking a significant opportunity to promote the hotel industry and meet the increasing demands for high-quality accommodations in the city.

The investors were given a detailed briefing regarding the specific hotel plots being offered for auction, plots number 6 and 8, located in Sector F-5, one of Islamabad’s most sought-after and prime locations.

These plots present an ideal opportunity for investors to develop world-class hotels, commercial centers, and service apartments, which will not only cater to the growing demand for luxury accommodation but also contribute to the expansion of Islamabad’s business and tourism sectors.

Chairman Muhammad Ali Randhawa further outlined the investor-friendly terms that have been introduced to encourage participation in the auction.

The hotel plots will be available to investors on easy instalment plans, with payments spread over two years.

Additionally, possession of the plots will be granted upon 75% payment, and an extra 10% discount will be offered for full upfront payment, making this an attractive investment and golden opportunity for both local and international investors.

The meeting also provided a platform for investors to share their proposals and suggestions regarding the auction of commercial plots. The investors expressed the need for more facilities to further stimulate participation and encourage more investment in Islamabad’s rapidly growing economy.

Chairman CDA assured the investors that their suggestions would be carefully reviewed, and viable suggestions would be presented for approval to the CDA board shortly.

Chairman CDA reiterated that CDA is fully committed to full support to the investors taking part in the auction process. He emphasized the Authority’s dedication to providing all necessary facilities and assistance to ensure a seamless experience for investors and to create a business-friendly environment which is conducive to investment and economic activities.

This initiative is expected to significantly impact Islamabad’s hospitality industry, bringing state-of-the-art facilities to the city and further establishing Islamabad as a prime destination for international business and tourism.