The Federal Government Employees Housing Authority (FGEHA) has announced a major public auction for premium commercial properties in Scheme 33, Gulzar-e-Hijri, Karachi. The auction is set to take place on December 23-24, 2024, at Professor Saleem uz Zaman Siddiqui Auditorium, ICCBS, Gate No. 4, Karachi University, Karachi. This open auction presents a lucrative investment opportunity for both domestic and overseas Pakistanis as well as foreign investors.
Key Highlights of the Auction
FGEHA is going to offer a number of premium commercial properties in this open auction, which include:
- 21 commercial shops
- 18 commercial plots
- 1 petrol pump plot
Properties Location and Features
These commercial properties are located in Gulzar e Hijri, Scheme 33 at Sumera Chowk on Karachi University Link Road at a distance of about 1 KM from Super Highway. All commercial shops are located on ground floors and face 60, 100 and 200 feet wide roads. These shops are suitable for a variety of business and offices. All facilities including Masjid, Parking Area, Washroom, Security and Maintenance services are readily available in these properties. Commercial plots are also ready for construction, and present a highly lucrative investment opportunity to builders and developers.
The Gulzar-e-Hijri Scheme features a highly attractive location for commercial ventures. The location near Karachi University and Super Highway ensures 24/7 access to facilities and transportation, while offers high returns to businesses and commercial projects.
Possession Terms
FGEHA offers building plan approval after first installment of 25%, while possession will be available after 75% payment along with a bank guarantee of remaining 25% amount. FGEHA will no charge any rent from builders for the site offices built during the construction period.
Payment Terms
These commercial properties are being offered with a 2-year payment plan. First payment is 25% of the price, while remaining amount is payable in 2 years through easy installments.
Discounts
10% discount is offered on lump-sum payment after a successful bid in the auction. A special 5% additional discount is offered in case the payment is made in US Dollars via banking channels.
Eligibility
All domestic and overseas Pakistanis as well as foreign investors are eligible to register for this commercial auction.
Auction Dates & Venue
- Dates: December 23-24, 2024.
- Venue: Professor Saleem uz Zaman Siddiqui Auditorium, ICCBS, Gate no. 4, University of Karachi.
Auction brochures can be obtained from FGEHA Karachi Office and Islamabad Head Office from 10th of December, 2024. For more details, visit the official FGEHA website at www.fgeha.gov.pk or contact the helpline numbers:
0333-2507881, 0321-5868521, 0333-5874050
This commercial auction offers an excellent opportunity for investors and individuals to secure prime commercial real estate in Karachi’s rapidly growing urban landscape, so don’t miss out.
Below is a copy of the official advertisement by FGEHA on Daily Jang:
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