Auction Alert: PHA to Sell 15 Shops at Residencia Project

APP

Islamabad: The Pakistan Housing Authority (PHA) Foundation is set to conduct a public auction for 15 shops located at its Residencia project in I-16/3 on May 22nd.

According to PHA sources, the auction will take place at the Islamabad Hotel Melody. Interested parties can acquire brochures at a non-refundable cost of Rs 3,000.

To participate in the auction, bidders are required to submit a refundable amount of Rs 200,000. This amount will be returned to unsuccessful bidders, while it will be adjusted against the payable amount for successful bidders.

It’s important to note that PHA employees, as well as its contractors, are prohibited from participating in the bidding process.

The PHA Foundation, a subsidiary public company of the Ministry of Housing and Works, is tasked with providing affordable housing units to low- and middle-income groups, including the general public and federal government employees.