Pakistan Railway has invited bids or expression of interests (EOIs) for setting up of five 5-star hotels or luxury apartments or commercial ventures in four major cities of the country including Karachi, Multan, Rawalpindi and Lahore.
"Pakistan Railway intends to develop the real estates for construction of 5-star hotels/luxury apartments/commercial venture to cater to the growing demand of business community and upward trend in the socio-economic activities in country," a spokesman of Railway Ministry told APP here on Saturday.
He said applications for EOIs for joint venture or bidding documents for straight lease in sealed cover indicating property name applied for should be submitted separately on or before June 25 till 11am.
Applications received after this date and time shall be returned unopened, he added. All bids for straight lease option will be opened by the nominated committee on the same day at 11:30am in the presence of bidders or their representatives in the office of the Director Marketing, Pakistan Railways, Burt Hall, Allama Iqbal Road, Lahore.
Giving details about available sites for the joint ventures or straight lease, he said, vacant Pakistan Railway Land and Kalapul Main Korangi Road, Karachi measures 11 acres and another property opposite Karachi Club, Dr Zia-ud- Din Ahmed Road, Karachi measuring 3.84 acres are available.
In Rawalpindi a plot measuring 5 acres is available on Railway Station Road, Rawalpindi and in Multan plot measuring 4.5 acres is available on Main Bahawalpur Road, Multan Cantt. He said in Lahore, land for building one or two 5-Star hotels in Mayo Gardens Colony, Lahore at 3 plots collectively measuring 13 acres are available. He said Pakistan Railway is keenly interested to offer these properties on Joint Venture Project (JV) on straight lease basis for a period of 99 years.