By ALEX WOODWOOD, AP Sports WriterIn an estate sale, a buyer wants to make money and to have the best deal for their heirs.
And that’s what this estate sale in Abbottabad, Pakistan, is all about.
It’s a rare example of a seller trying to make more than its asking price, which is $1,1 billion.
That’s why it’s a big deal.
And now the sale is going to generate an extra $1 million a month, as the estate of the late president and former prime minister, General Zia ul-Haq, sells its property in a big way.
The sale was approved on Friday and will take place next month.
It’s part of a $15 billion package of land deals worth about $1 trillion.
The deal is being touted as the largest land sale in Pakistan since the Taliban were toppled from power in 2001.
In the past, the sale of property has been used as a way to finance political parties, but not the president.
The Pakistan Development Authority has given the land to the former president’s family, who has been building a palace and shopping mall in the city of Abbottabadi.
The state-run Pakistan Times newspaper said it had purchased the land for $8.5 billion, with the remaining amount going to the prime minister’s family.
A group of wealthy people, including the late former prime Minister, have pledged to help the former prime ministers family finance the purchase.
In Abbottabad itself, the government will sell off about 1.4 million acres of land, which will be converted into luxury homes and retail shops.
It plans to build a hotel, restaurant and shopping center on the land.