Lahore: Sunday, June 16, 2024** – Punjab Central Business District Development Authority (PCBDDA) also known as Central Business District Punjab (CBD Punjab) has successfully received and opened the financial and technical bids for the Celestia Tower which will be constructed in Pakistan’s premier and largest IT hub, CBD NSIT IT City.
The NSIT Celestia Tower project attracted bids from several prominent construction companies, including Habib Construction, Maksons, EDCO King Concrete and Hasnat Builders. These companies submitted their sealed bids comprising both financial and technical components ensuring a comprehensive evaluation process. The bid opening ceremony was conducted transparently with all participating bidders present to witness the proceedings.
Key officials from CBD Punjab attended the bid opening, including Executive Director Technical Riaz Hussain Director Construction Director Procurement and Director Finance. Their presence underscored the project’s importance and CBD Punjab’s commitment to maintaining transparency and integrity throughout the bidding process.
The bid opening marks the first step in a thorough evaluation process. Each bid will undergo a detailed examination, assessing technical qualifications and financial viability meticulously. The receipt of bid securities a critical component of the bidding process, will also be verified. Following this detailed review the contract for the Celestia Tower will be formally awarded to the most qualified bidder. An official announcement regarding the contract award will be made in due course ensuring all stakeholders are informed.
Riaz Hussain CBD Punjab’s Executive Director Technical expressed confidence in the abilities of all participating companies. He reiterated that the contract award process will adhere strictly to all applicable rules and regulations emphasizing the commitment to transparency and fairness. We trust the capabilities of all the companies that have submitted bids. The selection process will be conducted with the utmost transparency, following all established guidelines and standards he stated.
The Celestia Tower is envisioned as a 19-story state-of-the-art building, poised to become a landmark in the region. The project is expected to be completed within 14 months and will involve an estimated investment of 7 billion PKR. Once completed, the Celestia Tower will not only enhance the architectural landscape of the area but also contribute significantly to the local economy by creating jobs and attracting business investments.
CBD Punjab’s commitment to this project reflects its broader mission to drive economic growth and urban development in Punjab. The Celestia Tower is part of the NSIT City project which aims to establish a hub for technology and innovation. By fostering such developments, CBD Punjab aims to position the region as a competitive player in the global market, attracting both national and international businesses.
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