The Rawalpindi Development Authority (RDA) has awarded three-year contracts for two parking plazas in Raja Bazar. The authority completed the contracts after conducting an open auction for the two facilities.
The auction took place under the directions of Rawalpindi Commissioner and RDA Director General Salman Ghani. The two properties include the parking plaza at Fawara Chowk and another plaza opposite the Tehsil Office.
Both facilities serve busy parts of Raja Bazar. They provide parking space for citizens, shopkeepers, visitors and commuters.
Fawara Chowk Parking Plaza Gets Highest Bid
The auction committee awarded the Fawara Chowk parking plaza contract to Zabiullah. The successful bidder will pay annual rent of Rs. 64.715 million.
Meanwhile, Waseela Enterprises secured the contract for the parking plaza opposite the Tehsil Office. The annual rent for that facility stands at Rs. 4.685 million.
The two contracts cover a period of three years. The committee reviewed the submitted bids before completing the auction under the prescribed rules and procedures.
RDA Approves Annual Rent Increase
The auction committee also approved an annual increase in rent for both parking plazas. Under the approved terms, rent will increase by 10 percent each year. The decision applies to both facilities covered by the auction.
As a result, the contracts will generate higher rental revenue for the RDA during their three-year tenure. The authority completed the auction while following the prescribed procedures for the management of its assets.
Who Attended the Auction Committee Meeting?
Director Estate Management RDA Iftikhar Ali chaired the auction committee meeting. Director Engineering Komal Chaudhry also attended the meeting.
Deputy Director Finance Ayesha Badar participated in the proceedings as well. Deputy Director Estate Management Abdul Rahman and Deputy Director Planning Muhammad Daud also attended.
Other officials were present during the committee proceedings. The committee reviewed the bids and approved the successful contracts according to the applicable rules.
Parking Plazas Serve Busy Raja Bazar Areas
The two parking facilities are located in busy areas of Raja Bazar. The Fawara Chowk plaza serves one of the area’s active commercial locations.
The second facility stands opposite the Tehsil Office in Rawalpindi. Both plazas provide designated parking space for people visiting and working in the area.
Citizens, shopkeepers, visitors and commuters can use the facilities for parking. The contracts will therefore place the management of both plazas under the successful bidders for three years.
RDA Focuses on Asset Management and Revenue
The RDA said it would continue focusing on transparency and accountability in managing its assets. The authority also aims to improve the utilisation of its properties.
Furthermore, it plans to increase revenue in accordance with applicable rules and regulations. The latest auction forms part of the authority’s approach to managing its parking facilities through formal contracts.
With the contracts now awarded, both Raja Bazar parking plazas will operate under the approved three-year arrangements.
The annual 10 percent rent increase will also apply throughout the contract period.
The RDA has emphasised efficient asset management while seeking better utilisation and increased revenue from its properties.
