Sale of Bank Islami Pakistan Limited Property at Plot R 1-25, Survey No 19, Karachi

Bank Islami Pakistan Limited invites bids for the sale of its property located at Plot Number R 1-25, Survey Number 19, Deh Khokhar, Murad Memon, District Malir, Karachi. This procurement is managed by the Asset Management Department of Bank Islami Pakistan Limited, Karachi. Items being procured: - Plot Number R 1-25, Survey Number 19, Deh Khokhar, Murad Memon, District Malir, Karachi The property sale is governed under the provisions of the Income Tax Ordinance 2001 sections 4(4)(b) and 15, and Rules 2018 (C). The reserve price for the property is set at Rs. 11,000,000 with a security deposit (earnest money) of Rs. 8,800,000. The total cost including other funds amounts to Rs. 11,589,237. Interested bidders must submit their original CNIC and three recent photographs to participate. The bidding process will start on 3rd August 2026 from 2:00 PM to 3:00 PM at the Head Office of Bank Islami Pakistan Limited, Asset Management Department, 2nd Floor, Business Center, Karachi. The successful bidder will be required to deposit 25% of the bid amount initially, with the remaining 75% to be paid within 15 days. Failure to comply will result in forfeiture of the earnest money. Eligibility criteria include valid FBR registration and compliance with Bank Islami's terms and conditions. The bank reserves the right to reject any bid without assigning any reason. The sale is on an as-is-where-is basis, and bidders are advised to inspect the property before submission. The submission deadline is strictly 3rd August 2026 at 3:00 PM. Bidders should ensure timely submission to avoid disqualification. The bid opening will be conducted in the presence of bidders or their authorized representatives. A practical tip for bidders: Carefully review the terms regarding earnest money and payment schedule to avoid disqualification. Ensure all documents including CNIC and photographs are complete and original to participate successfully.