RAWALPINDI — The Rawalpindi Development Authority (RDA) has awarded three-year contracts for two parking plazas in Raja Bazar after completing an open auction in Rawalpindi for these plazas. Both two facilities will generate more than Rs. 69 million of revenue a year in rent.
The auction covered the parking plaza at Fawara Chowk and a second facility located opposite to the Tehsil Office. Both sit in Raja Bazar, one of the busiest commercial areas Rawalpindi.
RDA Director General and Rawalpindi Commissioner Salman Ghani has ordered the auction. Director Estate Management Iftikhar Ali concluded the auction, chaired the committee, review and finalized the bid in honest way.
Rent and Contract Terms
Zabiullah won the Fawara Chowk contract with a winning annual rent bid of Rs. 64.715 million. Waseela Enterprises secured the plaza opposite the Tehsil Office at Rs. 4.685 million a year.
Both contracts are finalized for three years. The auction committee also approved a 10 percent annual increase in rent for each plaza in contract term of three years.
| Plaza | Location | Winning Bidder | Annual Rent |
|---|---|---|---|
| Fawara Chowk Parking Plaza | Raja Bazar | Zabiullah | Rs. 64.715 million |
| Tehsil Office Parking Plaza | Raja Bazar | Waseela Enterprises | Rs. 4.685 million |
How the Auction Was Conducted
Besides Iftikhar Ali, the auction committee included Director Engineering Komal Chaudhry, Deputy Director Finance Ayesha Badar, Deputy Director Estate Management Abdul Rahman and Deputy Director Planning Muhammad Daud.
Officials said that the committee completed the auction under prescribed rules and procedures. Bidders competed with each other through an open process rather than a negotiated allotment.
Why Fawara Chowk Went Back Up for Auction
The Fawara Chowk facility is Rawalpindi’s only multi-storey parking plaza. The RDA sealed it on July 12 after the previous contractor failed to clear Rs. 48.2 million in dues owed over seven months.
The contractor later offered Rs. 15 million to settle the whole matter after the dispute reached court. The RDA rejected the partial payment and demands the full amount owed.
Although the authority won a favorable court ruling, the plaza stayed closed for 20 days. Officials estimated the closure cost the RDA more than Rs. 100,000 a day in revenue lost, since the site is the city’s only dedicated multi-storey parking facility.
The RDA reopened the plaza on August 1 and ran it directly through a self-collection system while preparing the fresh auction, which had been scheduled for August 17.
Part of a Wider Revenue Push
The Fawara Chowk and Tehsil Office auctions follow a broader review the RDA launched earlier this year. In May, the authority’s Price Assessment Committee approved raising reserve prices for expiring leases on parking plazas and commercial shops by 10 percent over current rents ahead of re-auction.
That policy appears to have carried into this week’s results. Both new contracts include the same 10 percent annual rent escalation clause.
RDA Statement
The RDA said it would continue to prioritize transparency and accountability in managing these assets. The authority added that it aims to improve property utilization and increase revenue in line with applicable rules and regulations.
The two plazas will keep serving shopkeepers, visitors and commuters in Raja Bazar under the new three-year contracts, which carry rent increases of 10 percent every year.
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