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The Privatisation Commission is holding bidding tomorrow on Wednesday i.e.
December 27, 2006 at 10 a.m. in the Conference Room of the Privatisation
Commission, Islamabad among three parties who became eligible to participate
in the bidding after depositing the earnest money of Rupees one hundred
million each within stipulated period, to own and run a five star hotel on
prime land on Shahrah-e-Quaid-e-Azam, Lahore, which is presently titled as
“Services International Hotel (SIH)”.
Three eligible parties include 1. M/s Hashwani Hotels Ltd, 2. M/s S.A Builders
and 3. M/s Tri-Star Group.
The PC had invited Expression of Interest (EOIs) in March 2006 and received
nine (9) Expression of Interest (EOIs) from parties/ Groups to own and run a
five star hotel on prime land on Shahrah-e-Quaid-e-Azam, Lahore, which is
presently titled as “Services International Hotel (SIH)” with an approximate
area of fifteen (15) Kanals and four (4) Marlas.
The parties submitting EOIs include 1. Associated Group, Lahore, 2. Bahria
Town (Pvt) Ltd, Rawalpindi, 3. Hashwani Hotels Ltd, 4. Marwat Enterprises (Pvt)
Ltd, Lahore 5. Regent Plaza, Karachi, 6. SA Builders, Lahore, 7.Tri Star
Group, Islamabad, 8. Noor Financial Investment Company, Kuwait and 9.
Consortium of Sapphire Textile Mills Limited, Lahore. A pre-bid meeting was
held in October this year to create better understanding of the process and to
respond to the queries of the interested parties.
The available clear title of the land is in the name of Punjab Cooperatives
Board for Liquidation (PCBL) to operate a hotel. The bidders for the land
shall undertake to commence construction and operate a high-rise state of the
art five star hotel in an agreed time frame.