RUDA Conducts Auction Of Chahar Bagh's Souq Commercial District Plots

The auction process of Souq Commercial District Plots of Ravi City's Residential Project, Chahar Bagh, has been successfully completed.

LAHORE, (UrduPoint / Pakistan Point News - 21st Dec, 2022 ) :The auction process of Souq Commercial District Plots of Ravi City's Residential Project, Chahar Bagh, has been successfully completed.

Dozens of investors from across the country participated for 8 commercial plots of more than 2.7 kanals of RUDA.

According to the details, RUDA organized a ceremony in a local hotel for the auction of the commercial plots.

Imran Amin CEO RUDA, Shahid Butt Member RUDA board, Abid Latif Sindhu Director Media, domestic investors and many important personalities participated in the event.

At the commencement of the ceremony, CEO RUDA Imran Amin awarded certificate to the successful first bidder of Sauq Plot 1, congratulated the business partnership in Chaharbagh project and expressed the commitment that this project of Ravi City would bring a great change in the lives of the people. He said that it was RUDA's mission to provide a world-class lifestyle to the low-income earners.

Addressing the ceremony, Brigadier (Retd) Mansoor Ahmad Janjua Chief Operating Officer and Kashif Qureshi ED Commercial appreciated the investor's interest in the auction process and highlighted the business activities of RUDA Commercial Plots.

The auction of these plots under the supervision of RUDA administration was carried out through a transparent bidding process, in which the investors participated enthusiastically.

According to the public auction, the first bid in Souq Plot Auction 1 was completed at Rs 22.5 crore in the name of Mian Farooq / Wahaj Consultants, while the auction of Plot No. 2 was held at Rs 7.65 lakh per kanal.

General auction of Chahar Bagh Souq Plot 3 was fixed at 8 crores 10 lakhs per kanal, Souq plot 4 was bid at 8 crores 40 lakhs per kanal. The auction of Chahar Bagh Commercial Plot 5 was fixed at 8 crores 10 lakhs per kanal. General auction of Souq Plot 6 was 9 crores 10 lakhs per kanal was done in the name of Kingdom Valley. Souq 7 plot bid was set at 9 crore 20 lakhs per kanal. Last Souq plot 8 auction ended at 11 crore and 8 lacs lakhs per kanal.