|
|
|
|
|
Dr. Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment,
who is also Custodian for Hyatt Regency Hotel Project will supervise the
opening of sealed bid on Wednesday November 19, 2003 at 1000 hrs at
Privatisation Commission, received for the sale of the assets of Karachi Hotel
Project formerly allotted to Hyatt Regency Hotel Project on 'as is where is'
basis.
The project is available on a 99-year lease from the date of signing a
restricted commercial use leasehold agreement, between the successful buyer
and Pakistan Railways at a lease-rent of Rs. 556,745/= per annum for the first
ten years.
The project is constructed on land measuring over 10,000 square yards. It
is located at the inter-section of Maulvi Tamizuddin Khan Road and Dr.
Ziauddin Ahmed Road. It is a prime business location of Karachi and directly
faces Sheraton Hotel, Pearl Continental Hotel and the PIDC House.
The Supreme Court has dismissed the CPLA filed by Yousaf A. Haroon on November
17, 2003 and also recalled the stay order passed, earlier. Resultantly
the bid can now be opened and process continued. The Court has also declined
the request by Mr. S. M. Zafar, to be allowed to compete in the bid.
The 21 parties submitted EOI include Al-Raee Group of Companies, United Bank
Limited, Aqeel Karim Dhedhi Securities, Ford Rodes Siddique Hyder, National
Transport Company, Star Cotton Corp (Pvt) Ltd, Jahangir Siddiqui & Co,
Siddiqsons Group, Ghani Usman and Group, Khawaja Amir Ishaq, First Capital
Securities Corporation Limited, M/s Hashwani Hotels, Kuwait Hotels, Mr.
Solaiman Hoqani, M/s Al-Meezan Investment Bank, Karachi Properties Investment
(Pvt) Limited, NESPAK, Pakistan Petroleum Limited, The House of Indonesia (FZC),
M/s Export International and Dan Pak.