Notices Closed 07 Jul 2026
Public Auction: 4-Kanal Residential Property (House No.109), Ravi Block, Green Forts II, 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 (Mortgagee) invites the public to participate in a public auction under Section 15 of the Financial Institutions (Recovery of Finance) Ordinance, 2001 to recover outstanding mortgage finance.
| Mortgagor / Mortgagee | |
|---|---|
| Mortgagee | Dubai Islamic Bank (Pakistan) Limited, SAM Department, 70-Z, DHA Phase-3, Lahore |
| Mortgagors | M/s. Artema Medical (authorized officers/partners, office at 37-I, FCM DHA Phase XII, Lahore) and Mr. Daniyal Arif S/O Muhammad Arif Sheikh, Ravi Block, Green Forts II, Lahore |
| Liability Certificate | Determined by M/s. Fazal Mahmood & Company (Chartered Accountants), report dated 06.02.2026 |
| Property & Financial Details | |
|---|---|
| Property | Residential Land & Building, House No. 109, measuring 4 Kanals & 11 Sq. Ft., Ravi Block, Green Forts II, Farm Housing Scheme, Lahore |
| Owner | Mr. Daniyal Arif S/O Muhammad Arif Sheikh |
| Outstanding Amount (till 31.01.2026) | PKR 209,817,931.73 |
| Reserve Price | PKR 126,743,670 |
| Auction Schedule & Venue | |
|---|---|
| Date & Time | 2026-07-07 at 11:30 AM |
| Place | SAM Department, Dubai Islamic Bank, 70-Z, DHA Phase-3, Lahore |
Key terms:
- Interested bidders must deposit PKR 500,000 (Pay Order) in favor of the Auctioneer/Bank before participating.
- Successful bidder to pay 25% of the bid amount within two business days of auction and the remaining balance within fifteen (15) days of confirmation. Failure may result in forfeiture and re-auction.
- Property sold on "As Is, Where Is" basis. All applicable taxes, dues and costs will be borne by the purchaser as per the terms and Liability Certificate.
- Dubai Islamic Bank reserves the right to accept, reject or re-open the auction process in accordance with law and the Ordinance.
For further information and inspection arrangements contact the Auctioneer SAM Department:
- Mr. Fawaz Ghafoor (Regional Head SAM): 0300-4268665
- Mr. Javed Shahzad (AVP SAM): 0333-4466807
- Dubai Islamic Bank Pakistan helpline: 111-786-342 | Website: www.dibpak.com
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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