Islamabad: The Capital Development Authority (CDA) on Thursday opened bids for the development contract of Park Enclave III, according to news sources.
According to CDA officials, the competition was between six construction firms including Arif & Co, who was the lowest bidder. The project development cost was estimated at PKR 453 million, while the lowest bid was PKR 293 million. The final decision will be made by the authority.
A CDA official stated that the once contract is awarded, it will take a year to complete the project (according to PC-I). Under this project, the contractor will be responsible for building roads of sectors, security wall, and drainage.
Last year, the said housing scheme was launched by CDA on Park Road to be spread across 1,000 kanals of land. This project will be an extension of Park Enclave I and II. The housing scheme offers plots of different sizes starting from five marlas to and one kanal. Previously, the agency has been able to sell over 1,000 plots of different sizes and generated revenue of PKR 8 million.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
