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Seven prospective bidders have deposited Earnest Money of Rs.30 million
each with the Privatisation Commission for becoming eligible to participate in
the bidding being held at PC offices Islamabad on May 29, 2004 (Saturday) for
the sale of Faletti's Hotel, Lahore on 'as is where is' basis who are
interested in establishing/ maintaining it a quality hotel of international
repute within reasonable timeframe while ensuring that the new design of the
Hotel will be in harmony with the existing architecture and preservation of
its historic identity.
The parties who have submitted earnest money include A. A. Enterprises,
Karachi, 4 B Marketing, Elite Home Fashions, Hashwani Hotels Limited,
Islamabad, Pace Pakistan Limited, Lahore, Tourism Promotion Services
(Pakistan) Limited, Karachi and Unique Trading Company (Importers & Ship
Breakers), Karachi. PC had received 43 Expression of Interests from the
interested parties in response to the invitation to the investors for this
transaction.
This prime property 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. Only
those prospective bidders who submitted EOI were allowed to visit the site.