ISLAMABAD: The Capital Development Authority (CDA) opened tenders on Thursday to award contracts for the development of Park Enclave III, a housing project it started last year.

Six firms were competing, according to CDA authorities. Arif & Co presented an offer that was 35 per cent lower than the expected cost and ended up being the lowest bidder. The project’s anticipated cost is Rs453 million. However, the lowest bidder only offered Rs293 million.

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“We obtained an offer that was 35 per cent lower than the estimate due to vigorous competition. The case will now be given to the authority for formal bid approval,” said an official, adding that once awarded, the project will be completed in one year, according to the PC-I. According to him, the contractor would build sector roads, drainage, and a security wall as part of the deal.

The CDA inaugurated the housing mentioned above development on Park Road, which spans 1,000 Kanal of land, in September of last year. This plan is a continuation of Park Enclave I and II.

Last year, the civic administration auctioned over 1,000 plots of varying sizes to raise huge funds, with each five Marla plot fetching roughly Rs8 million. Plots are ranging in size from five Marla to one Kanal in this home project.

Though the lowest bids help the authority save money, CDA officials say that technically, the lowest bid is not a good thing because contractors typically submit the lowest proposal when competing with one another, lose interest in the project and try to delay it afterwards.

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