Notices Closed 07 Jul 2026
Public Auction — Residential House No.109 (4 Kanals) at Green Forts Farm Housing, Lahore — 07 July 2026
Public Auction · Lahore · Nawa-i-Waqt,
Notice advertisement published in Nawa-i-Waqt on Thursday, 18 June 2026, listed under Lahore. The last date printed on the advertisement was Tuesday, 7 July 2026 and has passed.
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Dubai Islamic Bank (Pakistan) Limited invites sealed public auction bids to recover outstanding mortgage finance by selling the mortgaged residential property described below. The auction is conducted under Section 15 of the Financial Institutions (Recovery of Finance) Ordinance, 2001.
| Auctioneer / Issuer | Dubai Islamic Bank (Pakistan) Limited (SAM Department) |
|---|---|
| Mortgagors | M/s Artema Medical (through authorized officers/partners) and Mr. Daniyal Arif S/o Muhammad Arif Sheikh |
| Property | Residential Land & Building — House No. 109, measuring 4 Kanals & 11 Sq. Ft., located at Ravi Block, Green Forts 2, Farm Housing Scheme, Lahore |
| Reserved Price | PKR 126,743,670/- |
| Outstanding Liability (as of 2026-01-31) | PKR 209,817,931.73 (liability certified by M/s Fazal Mahmood & Company, report dated 06.02.2026) |
| Date & Time of Auction | 2026-07-07 at 11:30 AM |
| Place of Auction | SAM Department, Dubai Islamic Bank, 70-Z, DHA Phase-3, Lahore |
| Earnest Money (to participate) | PKR 500,000 (cash or pay-order in favor of Dubai Islamic Bank) plus copy of bidder's CNIC before commencement of bidding |
| Deposit & Payment Terms | Successful bidder to deposit at least 25% of bid within two business days of auction; remaining balance within 15 days. Failure to pay will allow the Bank to adjust the deposited amount against borrower liability and re-initiate proceedings. |
| Sale Condition | Property sold on "As Is, Where Is" basis. Auction subject to Bank's terms and provisions of the Ordinance. |
| Contacts | Mr. Fawaz Ghafoor (Regional Head SAM): 0300-4268665; Mr. Javed Shahzad (AVP SAM): 0333-4466807; Website: www.dibpak.com |
Interested bidders should attend the auction venue on the specified date and bring the required earnest money and CNIC copy. For further information, contact the SAM Department at Dubai Islamic Bank, DHA Phase-3, Lahore.
Published in Nawa-i-Waqt on Thursday, 18 June 2026. DailyAds.pk indexes newspaper advertisements; the original notice and the issuing organisation remain the source for final terms and eligibility.
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