ISLAMABAD, September 16: The Federal Government Employees Housing Authority (FGEHA) has sold 16 commercial plots in Islamabad’s G-13 and G-14 sectors for Rs10.3 billion following the conclusion of a two-day auction, the authority said on Wednesday.
The auction covered commercial properties in G-13 and G-14, including plots in G-14 Markaz, and attracted competitive bidding from investors.
The highest-value transaction involved Commercial Plot No. 8 in G-14 Markaz, measuring 2,000 square yards, which was sold for Rs1.95 billion.
According to FGEHA, the plot attracted considerable investor interest and competitive bids during the auction.
Director General FGEHA Captain (Retired) Zafar Iqbal said the response reflected investor interest in commercial property opportunities in Islamabad.
He also acknowledged the role of FGEHA officials and administrative teams in conducting the two-day auction and thanked investors for their participation.
More FGEHA Commercial Property Auctions Planned
Zafar Iqbal said FGEHA planned to auction additional commercial properties in the near future, potentially bringing more investment opportunities to the market.
The authority said it would continue efforts to make its commercial property auctions transparent and organised while facilitating investors participating in future sales.
The latest auction generated an average of roughly Rs644 million per plot, although individual values varied significantly depending on plot size and location.
The Rs1.95 billion paid for the 2,000-square-yard G-14 Markaz property alone accounted for nearly one-fifth of the Rs10.3 billion generated through the 16-plot auction.
FGEHA Establishes Investor Facilitation Cell
Separately, FGEHA has established an Investor Facilitation Cell aimed at providing investors with a central point of contact for queries, requests and issues involving the authority.
The cell will operate under the supervision of the Director (Staff), according to FGEHA.
Under the arrangement, investors will not be required to approach different FGEHA offices or wings separately to seek guidance or resolve issues.
Instead, they will be able to approach the Director (Staff), who will coordinate with the relevant wings of the authority, monitor progress and follow up on required action.
FGEHA said the centralised mechanism was designed to streamline communication with investors and provide more timely handling of investment-related matters.
The authority said the initiative, along with further planned commercial property auctions, forms part of its efforts to facilitate investment and commercial activity in Islamabad.