Record-Breaking Auction by FGEHA: A Milestone in Commercial Property Sales

The Federal Government Employees Housing Authority (FGEHA) has set a new benchmark in the real estate sector with its highly successful commercial property auction. Held at the Prof Salim-uz-Zaman Siddiqui Auditorium, ICCBS, Gate No. 04, Karachi University, Karachi, the event attracted significant attention from investors and real estate enthusiasts alike.

Approximately 40 commercial properties, including 21 commercial shops and 18 commercial plots, located in Sector 24-B, Scheme 33, Gulzar-e-Hijri, Karachi, were put up for auction. In a remarkable turn of events, 21 of these properties were successfully sold, generating a record revenue of Rs 600 million – a historic achievement for the FGEHA.

The Chairman of the Auction Committee expressed his gratitude towards the investors, highlighting the growing confidence in the market. He noted that this successful auction not only reflects positively on the FGEHA but also contributes to the nation's broader economic development. The event marked a significant milestone for the authority, reinforcing its role in promoting sustainable growth and progress in the real estate sector.

With the growing interest in commercial properties and the authority’s continuous efforts to facilitate transparent and efficient real estate transactions, the FGEHA has paved the way for future success and continued investor trust.

This achievement reflects the positive direction in which the real estate sector is headed and serves as a testament to the FGEHA's commitment to fostering development and creating value for both investors and the economy.

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