The EOBI observed another milestone in its sparkling history on May 21, 2009 , with the ground-breaking of its 4-star hotel and mix use development project, near Allama Iqbal International Airport , Lahore . The project is 1 st of its kind in Pakistan .

The Ground-breaking ceremony of the project was simple and pleasant. The Chief Guest on the occasion was honorable Minister for Labour & Manpower, Syed Khursheed Ahmed Shah. The ceremony was attended among others by Ms. Samina Khalid Ghurki, Minister for Social Welfare & Special Education, Ms. Atya Inayatullah, senior parliamentarian, Mr. Nisar Ahmed Khuhro, Speaker Sindh Assembly, Mr. Muhammad Ashraf Sohana, provincial minister for Labour – Punjab, honorable Senators, members of National Assembly and Provincial Assembly of Punjab, prominent bureaucrats, representatives of various commercial and industrial organizations, employees of EOBI and guests from print & electronic media.

On arrival, the Chief Guest was welcomed by the Chairman EOBI Mr. Asadullah Sheikh along with senior members of his team, including Mr. Ijaz Qayyum Butt, Mr. Habib-ud-Din Junaidi - members of BOT, Mr. Muhammad Hanif - DG(Operations), CEO(PRIMACO) and others. After un-veiling of the Plaque and Dua, the Chief Guest was briefed about the salient features of the mega project by the Consultant.

The ceremony formally started with recitation from holy Quran by Mr. Sajjad Ahmed. Mr. Asadullah Sheikh welcomed the guests and briefly narrated the significant features of the project. He said that in order to ensure that increasing population of EOBI-pensioners is served persistently and that the pension amount is increased at appropriate intervals, EOBI is continuously looking for new avenues for investments. He informed that PRIMACO has been specifically formed to create, develop and manage real estate portfolio for EOBI. One such venture – he said , was the mix-use development project consisting of a 4-star Hotel and commercial complex.

Malik Asif Hayat, Federal Secretary for Labour & Manpower Division could not grace the occasion due to said demise of his mother. Speaking on his behalf Mr. Shahrukh Nusrat, Joint Secretary, Labour & Manpower Division informed the guests about long-term vision of the Division. He said that Pakistan has always promised great potential for real estate development industry. Its location, size of population, richness in hitherto largely un-earthed natural resources and a sizable & continuously improving level of skilled work-force has all it requires to attract investment both from local and foreign financiers. He hoped that ground-breaking of this mega infra-structure project will send right signals to all intended directions.

Speaking on the occasion, Mr. Dominique Simon, Economic Counselor Embassy of France said that France and Pakistan enjoyed trusted friendly relations. He said that projects such as EOBI Novotel Hotel involving ACCOR Hospitality, a world-renowned French hospitality chain shall not only strengthen the cordial relations among the two countries, but also encourage other French businessmen and investors to find business opportunities in Pakistan.

Delivering his key-note speech, Syed Khursheed Ahmed Shah, Federal Minister for Labour & Manpower expressed his satisfaction on the formal initiation of work of this mega project. He said that EOBI is Pakistan 's premier institution which was founded by Shaheed Zulfiqar Ali Bhutto, with a vision to provide social security net to the retired elderly class of this country. Shaeed's vision of looking after the needs of the retiring industrial and commercial workmen has been pursued by EOBI with vigilance and vigor over the years. He said that it is heartening to note that with changing times, EOBI has come up with a bold and potentially rewarding strategy of entering into value-addition in the field of real-estate. He underlined that the EOBI Hotel & mix use development project proudly happens to be the first project of its kind in public sector in the country. The Honorable Minister congratulated the members of Board of Trustees and Chairman of EOBI, members of the PRIMACO Board of Directors, project Consultants and all those concerned with visualizing this project and prayed for their success in achieving the deadline for the opening of this project.

Salient Features of the Project:

• Project-site is located between Rangers Head quarters and Allama Iqbal International Airport Lahore. The Plot area is 13,203 Sq.Yrds. (approx.)
• Project shall comprise of 250 keys with an approximate covered area of 194,239 sq. ft., a Shopping Mall Spanning for three floors of retail plus one floor of entertainment, covering an area of 567,105 sq. ft. (approx.)
• The project towers shall have underground parking levels, basement level housing all services, plant rooms and back of the house areas and a three level podium consisting of a shopping Mall.
• The hotel will house restaurants, 24-hour room service, meeting & board rooms, health club swimming pool, business center, etc.
• The Hotel is expected to be completed by March, 2012.
• The Hotel shall be of Novotel brand, managed by ACCOR Hospitality, France , under a Management Agreement.

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