CDA Releases Tenders for Park Enclave III Uplift
Islamabad: The Capital Building Authority (CDA), a housing project it had started last year, has released tenders to award a contract for the development of Park Enclave III.
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According to CDA authorities, six businesses were competing. One of them, Arif & Co., made a quote that was 35% less than the expected price and ended up being the winning bidder. The project’s anticipated cost is Rs. 453 million, however the lowest bidder offered Rs. 293 million.
Since each 5 Marla plot was sold for roughly Rs 8 million last year, the civic administration sold over 1,000 plots of various sizes to collect a significant amount of income. Plot sizes in this home development range from 1 kanal to 5 marla.
Speaking about the below-estimate bid, CDA representatives said that while the lowest bids help the authority save money, technically, the lowest bid is not a good thing because typically, contractors submit the lowest bids when competing with one another and later lose interest in the project and try to delay it.
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The aforementioned housing development, which spans 1,000 kanals of land, was introduced by the CDA in September and is located on Park Road. This plan is essentially a continuation of Park Enclave I and II.
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