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Islamabad, September 26, 2019 (PPI-OT): Zahid Latif Khan, Chairman, ISE REIT has said that Hospitality REIT will be launched soon in Islamabad and expressed hope that the hospitality REIT will be beneficial for the industry investors in general and industry in particular. There was dire need of further hotels in the Capital to cater the needs of the government and the corporate sector, he added.
He informed that during an industry assessment meeting with Aziz Boolani, Regional Chief Executive Officer, Serena Hotels for Pakistan and Central Asia, the management of ISE Towers REIT Management Company Limited (ISE REIT) believed that this initiative will attract foreign investment in the country. ISE REIT is blessed with ISE Towers which is hub of financial activities in the Capital, he added.
Aziz Boolani, CEO Serena Hotels, shared his experience of the industry with the ISE REIT management. He apprised that Serena Hotels has established itself as one of the world’s leading hospitality brands offering quality accommodation, unique holiday and conference solutions, cultural heritage and adventure tourism. Its collection of 35 unique hotels, resorts, safari lodges and camps, palaces and forts located in East Africa (Kenya, Tanzania, Zanzibar, Rwanda and Uganda), Mozambique and South Asia (Pakistan, Afghanistan and Tajikistan) are in some of the world’s most interesting, enchanting, historic and exotic settings. Boolani expected that hospitality REIT of ISE REIT will be very beneficial for hotel industry and other stakeholders.
Aftab Ahmed Ch., Director ISE REIT, briefed to Aziz Boolani that ISE REIT had been working earlier as a stock exchange from 1992 to 2015. However, its status was converted into Non-banking Finance Company (NBFC) in January 2016 upon merger of three stock exchanges of the country into Pakistan Stock Exchange. ISE REIT has the license to operate as Developmental Real Estate Investment Trust and is now planning to launch Hospitality REIT in Islamabad. Aftab Ahmed Ch. said that input from the industry experts will help ISE REIT to launch its project efficiently and effectively in the best interest of all stakeholders.
For more information, contact:
ISE Towers REIT Management Company Limited
55-B ISE Towers, Jinnah Avenue, Islamabad – 44000, Pakistan
UAN: +92-51-111-473-473
Fax: +92-51-111-473-329
Email: info@isereit.com.pk
Website: https://isereit.com.pk/