Sector E-12 Allottees Rejoice as CDA Opens Bids For Development of the Sector
E-12 Islamabad was planned and commissioned in 1989 when Capital Development Authority acquired 750 acres of land adjacent to the Shrine of Golra Sharif. According to the initial estimation of CDA, the sector was to have around 4000 housing units with all usual civic amenities provided. However, CDA was not able to materialize any of the development plans in 30 years due to illegal occupation of the acquired land and hectic litigations.
The Location of E-12 Islamabad
The location of E-12 is considered to be one of the best in Islamabad. Located right next to sector E-11 and adjacent to the shrine of Golra Sharif, the location of E-12 has the potential to provide premium investment opportunities for investors and builders alike. Another great aspect of the sector is its close proximity of the New Islamabad International Motorway and GT road. The easy accessibility, centralized location and a breath taking serene landscape of Margalla Hills make E-12 an easy choice for investors and aspiring home owners.
The History and Issues of E-12 Islamabad
There is finally some relief for initial allottees of Islamabad’s E-12. The sector was launched in 1989 and CDA, at that time, auctioned more than 4000 plots to general public and federal government officials. However, the organization was not able to carry out any development work due to already existing villages and squatter settlements in the area. Since the beginning of 2019, CDA finally took stern action and, aided by the law enforcing agencies, started the ground work of E-12. As per the latest updates, Capital Development Authority has managed to take control of nearly all the land in E-12 and the works division has already approve complete development plan for the sector. As per CDA sources, the land for E-12/2 and E-12/3 is completely under control of CDA. Therefore, the development work is to be started from these two sectors.
Bids Opening by CDA
CDA floated the initial invitation for tech and financial bids for development of E-12/2 and E-12/3 in August 2019 and has now finally started the process of bid opening. Adhering to the governing PPRA rules, separate technical and financial bids were invited for both the sectors. CDA has taken this leap forward amid the ongoing construction of E-12’s service road north worth 97.107 Billion PKR. According to CDA, as many as 22 firms have submitted bids for carrying out the development work in E-12. CDA further revealed that 10 consortiums and firms have tendered development bids for E-12/2 while 12 firms have done quotation submission for E-12/3’s infrastructural development.
What Will Happen after Opening of Bids
As per Capital Development Authority, the bids are set to be evaluated by an administering committee chaired by CDA’s Director General of Works. The financial bids, from technically qualified firms, are set to be opened after evaluation of the bids submitted. Once the financial bids are opened, the projects will subsequently be granted to the lowest bidders. According to CDA, since different quotations were invited for the two sectors, there is a high probability of awarding the projects to different contractors. This will ensure that work is carried out simultaneously in both the sectors and is completed within the timespan devised. The development work to be completed by the winning bidder includes the initiation and completion of roads network, water supply scheme, sewerage system and other amenities as per tender recitals.
The Effect on E-12 Property Prices
This news has created a lot of hype in the market. Since the location of the sector is considered to be prime, there is an increased demand in the market for the residential plots located in this sector. It is, perhaps, the only buyers-market in Islamabad at the moment with our sources in CDA claiming transfers of E-12 plots increased in the past quarter. Also, the holding investors are actively hunting the files in E-12/1 and E-12/4 since the market sentiment is positive in long run for these sectors too.
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