SECOND ROUND OF PRE-BID CONFERENCE FOR SALE OF FALETTI'S HOTEL AT LAHORE DURING NEXT WEEK

Islamabad, January 12, 2004


Privatisation Commission held the first round of pre-bid conference for the prospective bidders for the sale of Faletti s Hotel, Lahore on as is where is  basis here today under the chairmanship of Mr. Ahmad Waqar, Secretary PC.

The representatives of fourteen parties who had submitted EOI attended the conference for better understanding of the transaction and the bidding process and to respond to the queries of the prospective bidders regarding the sale.

The meeting decided to hold a second round of the pre-bid conference at Lahore during the next week. The bidding date will also be announced after consultation with the prospective bidders in the said round of the pre-bid conference.

The parties include Popular Contracting, Sialkot, Afzal & Co, Peshawar, Mohammad Khalid Randhawa, Islamabad, Associated Builders (Pvt) Limited, (Hashoo Group), Karachi, Hashwani Hotels Ltd, Islamabad, Shahid Gul & company, Karachi, Haji Saifullah & Group, Islamabad, Bahria Town (Pvt) Limited, Rawalpindi, Tourism Promotion Services (Pakistan) Limited, Karachi, TasHeel Group of Saudi Arabia, Hilton Millineum Group, USA, AMZ Securities (Pvt) Limited, Karachi, Emirates Global Investment Limited, Sharjah, UAE and LYNX Trading SDN, BHD of Malaysia.

This prime property is ideally located in the business district at walking distance from commercial centers, the Mall, Railway and airlines offices, the landmark building of the Assembly chambers, the national museum, botanical gardens, the zoo etc.

It has approximately total area of 68 kanals 11 marla 11 sq. ft. It has 44 large residential rooms, banquet hall, restaurant and facilities like tourist office, post office and travel and tour operating agencies.

The prospective bidders who have submitted EOI can only visit the site during working hours on any working day on prior appointment with the Privatisation Commission.