Nasla Tower plot fails to attract buyers

KARACHI: Authorities have decided to reissue the advertisement for the sale of the Nasla Tower plot after its auction failed to attract any buyers, ARY News reported on Monday, citing sources.

No investor turned up for the auction of the commercial plot, located on Shahrah-e-Faisal.

Earlier, the official assignee of the Sindh High Court had published a public notice in newspapers, inviting sealed bids for the auction. However, sources confirmed that no bids were submitted by the deadline.

The auction is being conducted in accordance with a Supreme Court directive to compensate the affected allottees following the demolition of Nasla Tower.

The deadline for submitting sealed bids was September 4, 2025, and the reserve price for the plot had been set at Rs 811.2 million. The plot holds commercial status and is approved for the construction of a basement plus ground and nine-storey building.

Also Read: Nasla Tower was subleased without completion certificate, investigation reveals

Nasla Tower was demolished in 2021 on the orders of the Supreme Court due to illegal construction on a service road. In April 2024, the apex court also ordered the sale of the plot to compensate the affected residents.