ISLAMABAD, April 2: The Privatization Commission on Friday invited fresh expressions of interest (EoIs) for the sale of Faletti's Hotel, Lahore, on "as is where is" basis.
The EoIs were invited from the bidders who are interested in establishing /maintaining a quality hotel of international repute within a reasonable timeframe while ensuring that the new design of the hotel was in harmony with the existing architecture and preservation of its historic identity.
The deadline for receiving the EoIs is April 16, 2004.
A handout issued here says that this prime property is ideally located in the business district, walking distance from commercial centres, the Mall, railway and airport offices, the landmark building of the assembly chambers, the national museum, botanical gardens, the zoo, etc.
It has approximately total area of 68 kanals. It has 44 large residential rooms, banquet hall, restaurant and facilities like tourist office, post office and travel and tour operating agencies.
The summary profile giving details of the property is available from Privatization Commission offices at Islamabad and GM, Faletti's Hotel, Lahore.
Bidding documents comprising terms and conditions of sale and bidding procedure will be provided on April 17 to those interested parties who will deposit a non-refundable processing fee of Rs10,000 along with their new EoI and details about themselves.
The prospective bidders who submit EoIs can only visit the site during working hours on any working day on prior appointment with the Privatization Commission.
The bidders who have already submitted their EoIs in response to the Privatization Commission's earlier invitation in December 2003 will be sent a new set of bidding document.
A pre-bid conference will be held to facilitate a better understanding of the transaction and of the bidding process and to respond to the queries of the prospective bidders one week ahead of the bidding. The bidding date will also be announced after consultation with the bidders in the pre-bid conference.