CBD Punjab Conducts Bid Opening for Celestia IT Tower

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 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.

Executive Director Technical CBD Punjab 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.

Comments

CBD Punjab Celebrated Pakistan Resolution Day with Patriotic Fervor

The Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), proudly commemorated Pakistan Resolution Day with unwavering dedication to the nation's progress. Held at the CBD Punjab headquarters, the ceremony was attended by COO CBD Punjab, Brigadier (R) Mansoor Janjua, directorate heads, senior officials, staff members, and ancillary staff, all united in the spirit of patriotism and national pride. The event began with a flag hoisting ceremony, symbolizing the steadfast commitment to uphold the principles of unity, faith, and discipline, and to strive for the betterment of the country while keeping the national flag flying high. The national flag soaring high served as a powerful symbol of prosperity and sovereignty. Addressing the gathering, COO CBD Punjab, Brigadier (R) Mansoor Janjua, emphasized the importance of commemorating the historic Pakistan Resolut

Huawei and OPPO Sign Global Patent Cross-licensing Agreement

Huawei and OPPO announced the signing of a global patent cross-licensing agreement, which covers cellular standard essential patents, including 5G. "After more than 20 years of continuous innovation, Huawei has developed multiple high-value patent portfolios in the global marketplace in domains like 5G, Wi-Fi, and audio/video codecs," said Alan Fan, Head of Huawei's Intellectual Property Department. "We are delighted to have reached a cross-licensing agreement with OPPO. The mutual recognition of intellectual property value between companies is a major step towards fostering a positive cycle of innovation and research in high-value standards: investing, receiving returns from investment, and then reinvesting. This will enable our industry to keep innovating and provide consumers with more competitive products and services." "We are very pleased to enter into patent cross-licensing agreement awith Huawei. It clearly demonstrates that the two compan

Economic confidence among finance professionals edges higher globally despite big fall in North America

The latest ACCA (the Association of Chartered Certified Accountants) and IMA ® (Institute of Management Accountants)  Global Economic Conditions Survey (GECS) suggests that confidence among accountants and finance professionals edged slightly higher in Q2 2024 and is just above its historical average. For chief financial officers (CFOs), all the key global indicators rose, with sharp gains evident in the New Orders and Capital Expenditure indices. There were some notable regional differences . Western Europe-based accountants reported another decent increase in confidence as the euro area and UK economies continue to stage recoveries. Even Asia Pacific saw a small rise off the back of a huge gain previously, and the New Orders Index increased strongly. The region is benefitting from improvements in the global economy, including in the manufacturing sector and the upward moving technology cycle. However, North America’s financial profe

Tech UP

Search This Blog