21 commercial properties sold for over Rs600m at FGEHA auction

ISLAMABAD: The Federal Government Employees Housing Authority’s Successful Auction of Commercial Properties in Gulzar-e-Hijri Karachi, generating over Rs600 million

ISLAMABAD: The Federal Government Employees Housing Authority (FGEHA) conducted a successful auction of commercial properties in Sector 24-B, Scheme 33, Gulzar-e-Hijri, Karachi.

The event took place at Professor Salim-uz-zaman Siddiqui Auditorium, ICCBS, Gate No. 04, Karachi University, Karachi, and witnessed active participation from a large number of investors, said a press release on Monday. Approximately 40 commercial properties were offered for auction, out of which 21 properties were sold, generating a record revenue of Rs600 million – a remarkable achievement in the authority's history. The auctioned properties included 21 commercial shops and 18 commercial plots in Sector 24-B, Scheme 33, Gulzar-e-Hijri, Karachi.

The chairman of the Auction Committee expressed appreciation for the renewed investor confidence, terming it a positive development for the organization and the nation’s progress. The Auction Committee congratulated all investors and assured them of full cooperation and support. The chairman stated that transparent auctions like this contribute to increased commercial and business activities, fostering economic stability.