Rs8bn earned from auction of 22 plots in G-13, G-14

Islamabad:The Federal Government Employees Housing Authority (FGEHA) is set to earn Rs8 billion from auction of 22 commercial plots in sector G-13 and G-14 at two-day auction which concluded at Gandhara Citizen Club on Thursday.

“A total of 22 plots were auctioned, generating record revenue of Rs8 billion, setting a historic milestone for the Authority,” a statement issued by the FGEHA said. The auctioned plots included a 2,600-square-yard mixed-use commercial plot in G-13, four commercial plots with double parking in the central business area of G-14, two commercial plots in Bazaar No. 5 in G-13, four commercial plots in Bazaar No. 6 in G-13, four commercial plots in Bazaar No. 1 in sector G-14/2, and six commercial plots in Bazaar No. 2 in sector G-14/3.

Director General of FGEHA has expressed that the restored confidence of investors is a positive development for both the Authority and the country's economic growth. He congratulated all the investors and assured them of full cooperation and support. He emphasised that transparent auctions like these boost commercial and business activities, contributing to economic stability. Furthermore, the DG announced the establishment of a dedicated Investor Facilitation Cell, which he termed as an ‘investor-friendly initiative’ that would help support future auctions and further investment.