Islamabad: The Capital Development Authority (CDA) has received an attractive bid for the development of Sector I-15/3 that is 25% lower than the formerly estimated total sum of PKR 1.1 billion required for the project, according to news sources.
The officials of the civic agency revealed that the lowest bid had been submitted by a construction firm called NMK. They added that due to the ongoing pandemic situation in the country, most contractors had been submitting low bids. However, a senior CDA official remarked that the authority would be increasing its ‘performance and bank guarantee of the contractor’ in order to ensure that a proper binding contract was awarded in the end.
The CDA had opened the financial bids for the project earlier this week and an approval from the concerned authorities was being awaited for the final acceptance of bids and awarding of contracts. The construction firm chosen is expected to be tasked with the complete infrastructural development of the first phase of the Sector I-15/3. The scope of the work will include the construction of road infrastructure, drainage, water supply, sewerage, electrification and other basic amenities.
The CDA has decided to finalise this process at the earliest in order to launch the development work as soon as possible. As per the official press release, the development of Sector I-15 will enhance the city’s housing stock and will create 10,290 new housing units of various categories in the locale.
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