Islamabad : The Capital Development Authority (CDA) has recently announced its plans to hold a plot auction exclusively for food businesses that are registered with Pakistan’s Security & Exchange Commission.
This is a significant move as it is the first time that the CDA will conduct such an auction.
The auction will offer 1 Kanal plots located on Capital Street, a prestigious location styled similarly to popular areas like City Walk in Dubai and Nizami Street in Baku.
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The plots will be exclusively reserved for food-related businesses, including international food brands, coffee shops, restaurants, and cafes.
Investors participating in the auction can enjoy several benefits, such as extending their lease period at DC rates upon completion, set at 33 years.
To ensure a smooth investment process, the CDA has established a support team to assist investors at every step.
The CDA has also made special provisions for prospective investors, such as taking advance tax on a pro-rata basis and requiring a 25% down payment within 30 days of acceptance.
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In addition, the CDA will provide additional space for 1 Kanal plots and outdoor dining.
The CDA plans to further streamline the investment process by establishing a special desk to approve building plans within a month.
This move will help expedite the process for investors and ensure timely approval of building plans.
The auction is scheduled to take place from May 10th to 12th at the Jinnah Convention Center in Islamabad.
Through this initiative, the CDA aims to attract more investment in the food industry and promote economic growth in the country.
This auction presents an exciting opportunity for food businesses to establish themselves in a prime location and contribute to the growth of the industry.
