The Capital Development Authority (CDA) has announced that it will hold an auction of 1 Kanal plot exclusively for food businesses registered with Pakistan’s Security & Exchange Commission (SECP).
The auction will take place from May 10 to May 13 at Jinnah Convention Centre in Islamabad, and the plots are located on Capital Street, designed to resemble famous streets in Dubai and Baku.
The properties come with additional space for outdoor dining and are reserved for food-related businesses such as restaurants, coffee shops, and international food brands.
This is the first time that the CDA has conducted an auction of this kind and it hopes to attract more investment in the food industry to promote economic growth in the country.
To be eligible to apply, national and international food chains must have at least 5 years of relevant experience and be registered with SECP as Pvt. Ltd companies or be regular FBR Tax filers for sole proprietors & AOPs.
Investors who complete the project will benefit from extending the lease period at DC rates set at 33 years. The CDA has established a support team to assist investors and make the investment process smooth.
A unique desk for approving building plans within a month will be established to streamline the investment process.
The investors will be required to pay a 25% down payment within 30 days after bid acceptance and advance tax on a pro-rata basis.
Stay connected to Arkaa News for the latest news and updates.