- Advertisement -
By Hina Durrani
ISLAMABAD, Jun 22 (APP): Federal Government Employees Housing Authority’s (FGEHA) two-day grand auction of commercial plots in Sectors G-13 and G-14 drew an overwhelming response in Islamabad, with the event taking place in at Hotel ‘Aura Grande’, Sector E-11.
A great number of Investors, developers and business entities were in attendance to seize this rare opportunity to invest in prime commercial locations.
This exceptional auction was a golden investment opportunity for investors to invest in valuable commercial plots in two prime sectors.
The commercial plots offered in this auction included four commercial in Bazaar No.5, Sector G-13/-3, Two Commercial plots in Bazaar No.6, G-13/3, Five commercial plots in Bazaar No.1, Sector G-14/3, Five commercial plots in Bazaar No.1, G-14/-2, Seven commercial plots in G-14 Markaz, One mixed-use apartment plot in Sector G-13/4.
A total of seven valuable commercial plots were sold out over the two days of auction, generating a collective revenue of over PKR 3.5 billion. This auction set an example as a significant milestone in the history of the FGEHA.
In an exclusive Interview with APP, Assistant Director of revenue wing in FGEHA Syed Muhammad Israr said that the total land of commercial plots in Sectors G-13, G-14 offered in this auction was 14,632 square yards. Commercial plots of three categories Including Class-III commercial plots in G-13, G-14, mixed-used commercial plots and G-14 Markaz commercial plots were presented for auction over the two days.
He shared that Class-III commercial plots were popular among the other categories and investors were more interested in buying plots of this category which is why six Class-III commercial plots were sold out while one G-14 Markaz commercial plot was sold out in two days.
Muhammad Israr informed that total 27 brochures were sold out and 19 tokens were issued during the two-day auction.
He expressed satisfaction over the overwhelming response by the investors and said that invest have shown trust on FGEHA. He further shared that the revenue generated through this auction would be spend in the developments projects and maintenance of these two sectors.
Syed Muhammad Israr vowed that the authority would bring more investment opportunities for investors in future and would continue to serve the federal government employees and the other specified groups as well.
Talking to APP, the spokesperson of FGEHA told that on the directives of Director General of FGEHA Captain (R) Zafar Iqbal, a dedicated ‘One Window Cell’ was established for the facilitation of investors which was headed by Director
Administration, the cell ensured the swift processing of allotments, lay-out plans, and other related matters which was
a practical step towards the transparent and efficient service delivery.
He proudly shared that the event garnered a huge success and generated a good and sustainable revenue for the
Authority-a record achievement in its history.
The spokesperson emphasized the importance of property auction because it provided an opportunity to the investors
to invest in country’s property market by offering them special incentives and policy benefits.
He also expressed gratitude to his team members, media representatives, security agencies, and other departments
whose cooperation and dedication contributed excellently to the success of the auction.
In an interview with APP, two investors who were business partners namely Tahir Bashir and Pervez Iqbal told that they
were here to invest in Class-III commercial plots in Sector G-13 because they reside in G-13, the sector was completely developed.
They expressed satisfaction over the facilities provided on the venue of auction by FGEHA, saying, The authority team members were very cooperative and guided them so well. Token system was new to them, the team guided them on every stage.
They congratulated FGEHA’s team for arranging a successful two-day auction event.