Record-Breaking Auction of Commercial Properties in Gulzar-e-Hijri Karachi Generates Revenue of Rs. 1.10 Billion for FGEHA
The Federal Government Employees Housing Authority (FGEHA) successfully conducted an auction of commercial properties in Sector 24-B, Scheme 33, Gulzar-e-Hijri, Karachi. The auction was held at the Prof. Saleem uz zaman Siddiqui Auditorium, ICCBS, Gate No. 04, University of Karachi, and witnessed an overwhelming response from investors.
Approximately 40 commercial properties, including 1 petrol pump, 21 commercial shops, and 18 commercial plots, were presented for auction. The event generated record revenue of Rs. 1.10 billion, marking a significant milestone in the history of FGEHA.
Speaking on the occasion, the Chairman of the Auction Committee highlighted the restored confidence of investors, emphasizing that such transparent and successful auctions are a positive step towards institutional and national development. The committee congratulated all investors and assured them of complete support and facilitation.
The Chairman also noted that auctions of this nature encourage commercial and business activities, thereby contributing to economic stability. Investors expressed optimism regarding future opportunities with the authority and affirmed their commitment to strengthening working relationships for profitable ventures.
