Bank’s Property for Sale

Bank owned property located in Islamabad is available for sale on “As is where is” basis, as below:

Location of Property Size/Area
House # 3, Street # 1, Sector G, DHA Phase II, Islamabad 500 Sq. Yards

Sealed bids are invited from interested individuals/parties as per terms and conditions given below.

For further details or to visit the property, please contact:
Mr. Sajjad Haider: 051-8102243 / 0331-5128050

Terms and Conditions:

i. The envelope for sealed offer(s) marked as “CONDIFENTIAL” addressed to Country Head, General Services Division. The offer must accompanied with a Pay Order (PO)/Demand Draft (DD) or Banker’s Cheque (BC) in favor of “Askari Bank Limited” for Rs.1,000,000/- (Rupees One Million only) as surety money and shall be submitted through Registered Post/Courier latest by March 31, 2021 by 5:00 pm at the following address:

General Services Division, Head Office, Askari Bank Limited
4th Floor, NPT Building, F-8 Markaz, Islamabad

ii. The offer letter must include copy of CNIC (for individuals) or Company Registration Certificate (for companies).

iii. Only sealed envelopes will be entertained. Unsealed envelopes and offers without PO/DD/BC will not be considered.

iv. The successful party will be required to pay 25% of the approved offer through PO/DD/BC in favor of Askari Bank Limited within 10 working days from the date of issuing acceptance letter by the Bank, failing which the surety money will be forfeited.

v. The remaining balance of the approved offer shall be payable within 40 working days from the date of issuance of acceptance letter by the Bank. In case of non-payment of the remaining payable amount within the prescribed time frame, the surety money shall be forfeited.

vi. The surety money shall be refundable in full to unsuccessful party(ies) by releasing the PO/DD/BC duly discharged, within 30 working days from the date of opening of sealed offer(s).

vii. All expenses and charges with regards to transfer of property, including but not limited to registration charges, stamp and other duties, conveyance deed/sale deed, taxes including advance and withholding taxes and any other government charges/levies shall be borne/payable by the successful party.

viii. The possession of the property will be handed over to the successful party or its nominee upon making full and final payment of the approved offer and upon completion of all formalities, as set out hereinabove.

ix. The Bank reserves the right to accept/reject any/all offer(s) as well as to amend/alter any terms and conditions as set forth hereinabove without assigning any reason or explanation.