Islamabad: The Federal Government Employees Housing Authority (FGEHA) on Thursday succeeded in generating funds worth PKR 13.65 billion during a grand two-day auction of plots in Class-III Shopping Centers of Sectors G-13 and G-14, and five commercial mixed-use plots in the Mauve Area of Sector G-14/4, according to news sources.
As per the official press release, the grand auction was held at the Islamabad Sports Complex on November 25 and 26. The auction proceedings were virtually attended by investors from other cities and overseas Pakistanis through the Zoom mobile application.
FGEHA Director General Waseem Hayat Bajwa stated that incentives like quarterly instalment payments and discounts on lump-sum payments were being offered in a bid to facilitate potential investors. He added that the commercial plots being auctioned off were located at the gateway of Islamabad and offered high real estate value to interested parties.
The auction of Class-III Shopping Centers in G-13 and G-14 was held on the second day of the event (November 26). On the occasion, investors expressed a keen interest in the plots on offer and as a result, 14 plots were sold for over PKR 2 billion.
Overall, FGEHA expressed great satisfaction with the success of the two-day auction and further predicted that the country’s real estate industry would receive a boost in the near future as millions of Pakistanis around the world were showing an increasing interest in the local property sector.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
