Islamabad: New Blue Area Project Raises PKR 12 Billion in Just 2 Days of Auction

New Blue Area project is a demonstration of the efforts of PM Imran Khan to promote the construction industry in the country.

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blue area project

The New Blue Area project in Islamabad has received a massive investment of more than PKR 12 billion in just two days of being auctioned. 

The Capital Development Authority had organized a 3-day auction from July the 15th to the 17th for the New Blue Area’s commercial plots situated on Jinnah Avenue.

So far, the authority has auctioned eight commercial plots of various sizes and collected PKR 12.79 billion. The municipal corporation approved bids for four commercial plots worth PKR 7.24 billion on the second day of the auction.

A representative for the CDA has said that the New Blue Area project is a demonstration of the efforts of PM Imran Khan to promote the construction industry in the country. The participation of investors in the auction process shows their confidence in the federal government’s business-friendly policies.

The corporation will use the investment raised from the auction to launch different projects in the capital city for the betterment of the residents.

On March the 1st, the PM visited the proposed site of the New Blue Area project before formally launching the project.

PM Khan had formally approved the plan of the New Blue Area project in February after the CDA allocated 170 Kanals for the project on Jinnah Avenue.

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