Auctioning commercial are of EHFPRO, the Federal Government Employees Housing Authority (FGEHA) successful earned Rs. 2.06 billion. The commercial area is located in G-13 and is a multi-storey residential project.
After earlier auctions of Mauve area and Class 3 shopping centres, FGEHA Director General Waseem Hayat Bajwa planned to auction the commercial area of EHFPRO, a joint venture project of FGEHA and Progressive Motels and Resorts. It is said that it was just a matter of 4-days when the auction completed, yesterday.
It is believed that the revenue generated from this auction would ensure timely completion of the project, started back in 2016.
The source further said that the Authority approved the highest bids for the commercial area amounting to Rs. 2.06 billion. It is one of the biggest projects of FGEHA, consisting of 3240 apartments of different sizes.
This grand auction worth PKR 2.06 billion is a golden opportunity for investors to invest safely and help boost the construction sector.
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