AUCTION: Public Auction of Mortgage Property by Dubai Islamic Bank Lahore

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. Dubai Islamic Bank (Pakistan) Limited is conducting a public auction under Section 15 of the Financial Institutions (Recovery of Finance) Ordinance, 2001, to recover outstanding mortgage money from the mortgagor. The auction is for a mortgaged residential property located in Lahore. The mortgaged property is a piece and parcel of land and building bearing House No. 109, measuring 4 Kanals and 11 Sq.Ft., situated at Ravi Block, Green Forts 2, Farm Housing Scheme, Lahore. The reserved price for this property is PKR 126,743,670. Items being auctioned: - Residential Property (Land & Building), House No. 109, 4 Kanals & 11 Sq.Ft., Ravi Block, Green Forts 2, Farm Housing Scheme, Lahore The liability and outstanding mortgage amount till 31.01.2026 is PKR 209,817,931.73, which includes all applicable costs and charges as per the liability certificate issued by the Chartered Accountants firm Fazal Mahmood & Company. The auction will be held on 09-11-2026 at 11:30 AM at the SAM Department, Dubai Islamic Bank, 70-Z, DHA Phase-3, Lahore. Interested bidders must deposit earnest money of PKR 500,000 either in cash or via pay order in favor of the Auctioneer Bank before bidding. The highest bidder will be declared successful and must deposit at least 25% of the bid amount within two business days, with the remaining balance payable within fifteen days. Failure to pay may result in forfeiture of the earnest money and re-auctioning of the property. The auctioneer reserves the right to adjourn or cancel the auction without assigning reasons. This auction is a valuable opportunity for bidders to acquire a prime residential property in Lahore. Bidders should ensure timely submission of earnest money and prepare all necessary documentation including CNIC copies. The auction follows strict regulatory guidelines under the Financial Institutions Ordinance. For further details and to participate, bidders can contact the Auctioneer at Dubai Islamic Bank (Pakistan) Limited, SAM Department, 70-Z, DHA Phase-III, Lahore. The regional heads Mr. Fawaz Ghafoor and Mr. Javed Shahzad are available for assistance. This notice is crucial for bidders seeking investment or property acquisition in Lahore's residential sector.