Islamabad: The Federal Government Employees Housing Foundation (FGEHF) on Wednesday auctioned several commercial plots situated in sectors G-13 and G-14/4 of the capital city – a news source reported.
A ceremony to this effect took place at the Islamabad Hotel Melody. FGEHF Director General Waseem Hayat and senior officials of the Ministry of Housing & Works were all present at the occasion.
At least 15 commercial plots were put up for auction. The event began at 10 in the morning and continued till 4 in the evening. The authority managed to earn PKR 706.35 million through the auction process.
A plot situated in sector G-13/2 measuring 233.33 square yards fetched a price of PKR 88 million. The same plot had received the highest bid offer of PKR 380,000 per square yards. Similarly, two plots in the same sector - measuring 500 square yards – were each auctioned for PKR 262,000 per square yard.
Nine of the 15 plots were auctioned, while the authority deferred the auction of six plots. FGEHF plans to spend the amount received on the development of sectors G-13 and G-14/4.