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The Privatisation Commission has invited fresh Expression of Interest (EOIs)
from financially sound international organizations with operating experience,
and individual / consortium of investors with commitment to build, own and run
a five star hotel on a prime piece of land on Shahrah-e-Quaid-e-Azam, Lahore,
presently titled "Services International Hotel (SIH)" with an area of
fifteen (15) Kanals, three (03) Marlas and one-hundred thirteen (113) square
feet (6,346.46 square meter approximately).
The interested parties have been asked to send their EOIs alongwith
non-refundable processing fee of US $ 5,000 or equivalent Pak Rupees latest by
April 27, 2007 giving details about their organization, along with
registration of organization attested from the appropriate / applicable
Chamber of Commerce & Industry and copies of audited accounts. Individual/
consortium of investors has been asked to provide bank statement for the last
three years to demonstrate net worth.
The successful bidder shall have to construct a five-star hotel including
basements in accordance with the Building Regulations of Lahore Development
Authority (LDA). The permissible height of the hotel building shall be 400
feet. The allowable floor area ratio shall be 1:12. The coverage at ground
floor shall be permissible after leaving 50 feet house line towards
Shahrah-e-Quaid-e-Azam, 13 feet wide space at three sides including the rear
side of the building. Upto 20% of the total covered area would be commercial
area with the condition that only 5% of this area would be used for shops
while the remaining 15% would be dedicated for offices.
The successful bidder shall have to construct a five-star hotel within a
three-year time frame. The Successful Bidder shall submit a Performance Bank
Guarantee equivalent to fifteen percent of the bid price. The Privatisation
Commission shall have the legal right to encash the Bank Guarantee if the
Successful Bidder fails to achieve the agreed construction milestones.