FAISALABAD, Oct 16 (APP): The Faisalabad Development Authority (FDA) has generated total revenue of Rs. 290 million through the sale of 13 commercial properties in open auction.
An FDA spokesman said here on Friday that this initiative was aimed at further strengthening the authority’s financial position and increasing its income.
He said that the public auction took place at FDA Complex and Commercial properties owned by FDA, located in various areas, were offered for sale through an auction.
The successful bids were placed for 10 shops (each measuring 4.5 marlas) in Millat Town, a 14-marla plot in Sir Syed Town-III, and two utility sites designated for educational and healthcare facilities within private housing schemes.
A large number of prospective buyers and investors participated in the public auction, placing bids to secure the plots of their choice.
The interest shown by successful bidders in purchasing various plots reflects the commercial significance and investment potential of properties owned by the FDA.
Under the directives of FDA Director General Muhammad Asif Chaudhry, measures are being taken to bolster the organization’s financial resources, optimize revenue streams, and make better use of available assets.
The auction of commercial plots is part of this strategy, aimed at strengthening the organization’s financial foundation and ensuring the availability of resources for urban development projects.
The FDA administration has reaffirmed its commitment to continuing practical initiatives focused on ensuring financial stability, transparency, improved administrative governance, and the provision of quality amenities to the citizens.
Source: APP (Associated Press of Pakistan)
