A Qatar-based company has expressed its interest in the construction of several seven-star hotels in the metropolis at the estimated cost of $2 billion.
Presiding over a meeting on Thursday, City Nazim Syed Mustafa Kamal hoped that the construction of seven-star hotels with foreign investment would help improve the revenue, besides catering the increasing needs of hotels in the city.
The meeting was convened to discuss the activities of various departments of City District Government Karachi (CDGK), being executed in the city. On the occasion, EDO Enterprises and Investment Promotion (E&IP) department of CDGK, Hassan Naqvi, who also gave a detailed briefing, DCO Karachi Fazlur Rehman and Principal Secretary to City Nazim Tariq Mirza were present.
The nazim asked E&IP department to identify proper location in collaboration with the Land Department in order to speed up the process. He also directed the concerned department for setting up an independent department to work freely with the use of latest technology to provide facilities to investors.
The proposed department would play role as a bridge between CDGK and the federal government in addition to the investors, Kamal elaborated. He also emphasised on the need of various recognised food streets in the city to attract foreigners, besides scaling its beautification to the heights.
He apprised the meeting that several projects were in pipeline, which would soon be endorsed by the CDGK, adding that in this regard it was going to sign agreements with private firms on the basis of public-private partnership.
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