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The Lease Deed Agreement regarding the Hyatt Regency Karachi Hotel Project
was signed between the buyer Aqeel Karim Dhedhi Securities (Pvt) Limited (AKDS)
and the Ministry of Railways in the presence of Dr. Abdul Hafeez Shaikh
Federal Minister for Privatisation & Investment and other senior officials
here today.
M/s. Aqeel Karim Dhedhi Securities (Pvt.) Limited, the successful buyer of
Karachi Hotel Project (Hyatt Regency Hotel) had deposited full sale price of
Rs. 530 million to the Custodian (Chairman Privatisation Commission) on 28
January 2004, which was above than the reference price.
Privatisation Commission received a bid for the sale of the assets of Karachi
Hotel Project on 'as is where is' basis on November 19, 2003 for this above
than two decades old project. The building will now be used to establish the
National Commodity Exchange, first of its kind in Pakistan. The building is
located across the road from the PIDC House, Karachi.