LAHORE: Bahria Town and Hyatt Hotels Corporation signed an agreement for building four hotels in Pakistan. The hotels will be built in Bahria Town Karachi, Lahore, Rawalpindi and Islamabad.
The projects with an investment of over US$600 million are expected to revolutionise the hospitality industry of Pakistan.
Speaking on occasion Malik Riaz, Chairman Bahria Town, said, “our vision is to work with the best partners and play our positive role to usher a new era of economic growth in Pakistan.”
Hyatt’s Senior Vice President for Europe, Africa, Middle East and Southwest Asia Peter Norman said, “after CPEC’s announcement, we are optimistic about the growth of Hyatt’s brands in Pakistan.”
Bahria Town CEO Ahmed Ali Riaz Malik said, “Bahria Town is building the new face of Pakistan.”
In September, development conglomerate Bahria Town signed a framework document with China Railway 20 Bureau Group Corporation (CR20G) for collaboration on undertaking the development of a Bus Rapid Transit Blue Line (Blue Line) project in Karachi.
According to a press release, the agreement was signed by CR20G Chairman Deng Yong and Bahria Town Chairman Malik Riaz. CR20G, a subsidiary of China Railway Construction Corporation Limited, has vast experience in undertaking mass transit projects worldwide.
The group CR20G is already working in Pakistan on the Lahore-Abdul Hakeem Motorway project having a value of over $1.5 billion.
Published in The Express Tribune, November 14th, 2016.