ISLAMABAD, April 21: In response to a fresh invitation, the Privatization Commission has received 16 more expressions of interest (EoIs) for the sale of Faletti's Hotel, Lahore, on 'as is where is' basis.
Only bidders interested in establishing/maintaining it a quality hotel of international repute within reasonable timeframe while ensuring that the new design of the hotel is in harmony with the existing architecture and preservation of its historic identity have been invited to bid.
All the 32 potential investors who have submitted their EoIs have been invited to attend a pre-bid conference to be held here on April 27 for better understanding of the transaction and the bidding process. The bidding date will also be announced after consultation with the prospective bidders in the pre-bid conference, which is expected to be held by early May 2004.
The new parties who have expressed their interest in the purchase of Faletti's Hotel include: Mushriq TV (Pvt) Ltd, Lahore; 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 Ltd, Singapore.
Faletti's Hotel has a total area of 68 kanals 11 marla 11 square 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 bidders who have submitted EoIs can visit the site during working hours on any working day on prior appointment with the Privatization Commission.
