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.
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.
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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