ISLAMABAD: The second phase of auction of the federal government’s abandoned properties would be held in Lahore on Wednesday.
In this regard, 13 properties including shops, apartments and a leftover building of WAPDA would be offered for sale during the open auction.
According to officials, out of the 13 properties up for sale in Lahore, 12 are owned by the Earthquake Rehabilitation and Reconstruction Authority (ERRA), which was created in the aftermath of the October 2005 massive earthquake.
The reserve price of three shops located on MM Alam Road has been estimated at Rs43.33 million while nine apartments located on link Ferozepur Road have been estimated at Rs41.66 million. The WAPDA leftover building spreading over an area of 16 marlas on Nicholson Road carries the reserve price of Rs90 million.
Privatization Minister Muhammadmian Soomro would be present at the auction ceremony, which would be held at the Faletti’s Hotel.
The 8-kanal plot where a research and training centre of the textile ministry was to be established, will be offered for sale in an open auction to be held on September 11. The reserve price of the plot has been assessed at Rs20,000,000.
