Bidding for Financial Tower in Panama Postponed

Reception of bids for conceptual design of the project scheduled for October 4 was postponed until November 18.

Wednesday, September 29, 2010


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The Bid´s reference price of $ 8million includes design as well as architectural and technical specifications.

Prensa.com informs "According to documents, the skyscraper will be more than 300 meters high and top floors would have a gazebo, restaurant and lounge."

U.S. firm SOM conducted preliminary designs at a cost of $300,000.-

More on this topic

Panama: 23 Companies Express Interest in Financial Tower

September 2010

Authorities expect construction to begin in 2011 and that it will be ready in 2013.

Panama's Economy and Finance Ministry (MEF in Spanish), has held a preliminary meeting to discuss the $8 million contract, which includes conceptual design, draft architectural plans and technical specifications for the Financial Tower.

Mallol Favorite for Panamanian Financial Tower

November 2010

Of the 6 participants in the bidding for the $ 8 million project, Mallol & Mallol, obtained the highest score.

With 94 points out of a total of 100, the company overtook the firm Pinzón & Lozano by 10 points. In third place with 72 points was consortium Kobi, Karp, FIMS & Sum.

Mallol will Design Panamanian Financial Tower

November 2010

The Ministry of Economy awarded company Mallol & Mallol the design of the project.

Official awarding could be delayed due to the filing of a complaint with the Public Procurement Department by Pinzón Lozano & Asociados.

"Pinzón Lozano & Asociados ensures that the commission´s report incurs into omissions and arbitrary decisions while implementing approved parameters." He further claims that the Mallol consortium's proposal does not meet the statutory minimum requirements", reported an article in Prensa.com.

Panama Invites Bids For Megaproject Blueprints

June 2010

The government announced it will invite bids for designing the plans of the Government City.

This project comprises constructing institutional buildings, the financial tower and areas for residential, commercial and office development.

Alberto Vallarino, Economy Ministry, remarked that “part of the project will be financed by selling lots”, and that the entire cost of the project is not known yet.

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