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Privatisation Commission has extended the last date for receipt of
Expression of Interest (EOI) from those prospective bidders 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 was in
harmony with the existing architecture and preservation of its historic
identity latest by May 13, 2004 for ensuring maximum participation from the
quality players and to facilitate investors. However, the bidding date for
Faletti’s Hotel targeted for May 29, 2004 remains unchanged.
In response to the recent invitation the Privatisation Commission had
received 16 more Expression of Interest from the prospective bidders for the
sale of Faletti’s Hotel, Lahore on ‘as is where is’ basis. Sixteen parties had
earlier submitted EOIs for this transaction. There are currently 32 total
parties, which have expressed interest in this transaction.
The parties include Export International, Karachi, 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 Securtites (Pvt) Limited, Karachi, Emirates Global Investment Limited,
Sharjah, UAE, Al-Hamra Trading Co, Karachi, LYNX Trading SDN, BHD, M/s Mushriq
TV (Pvt) Ltd Lahore, M/s Imperial Builders Karachi, PACE (Pakistan) Ltd
Lahore, Hotel Crown Plaza Islamabad, Bara Ghee Mills, Bara, S.B.Technologies.
LLC, Lahore, Jahangir Siddique Capital Markets (Pvt) Ltd Karachi, Pharaon
Commercial Investment Group Ltd Islamabad, Haji Khadim Hussain Rawalpindi,
Elite Home Fashions (Pvt) Ltd Faisalabad, Lakson Tobacco Company Limited
Karachi, Sapphire Group Lahore, CooKu Enterprise Islamabad, SAS (Pvt) Ltd
Islamabad, Husnain Cotex Limited Lahore and Kaston Holdings Pte. Ltd
Singapore.
The summary profile giving details of the property is available from PC
offices at Islamabad and GM, Faletti’s Hotel, Lahore. Bidding documents
comprising terms and conditions of sale and bidding procedure will provided on
May 14, 2004 to those interested parties who will deposit a non-refundable
processing fee of Rupees ten thousand only along with their EOI and details
about themselves. The prospective bidders who will submit EOI can only visit
the site during working hours on any working day on prior appointment with the
Privatisation Commission.The prospective bidders who have already submitted
their EOIs in response to PC’s earlier invitation in December 2003 and April
2004 will be sent a new set of bidding document.