Keenjhar Lake Resort Project - Sindh Board Of Investment ...

Resort zone
While details are provided in the above referred RFP and supporting documents, the following
elements of the resort zone are mandatory:
1. Resort Hotel, Serviced apartments and Chalets
2. Convention Centre
3. 18 hole Golf Course
4. Utilities infrastructure, including STP, Water Treatment Plant and Solid Waste Management
In addition to the above, the following areas have been identified in the development mix for which
developers shall have the flexibility on development. These are all residential components that were
added to the development mix in order to provide avenues to the developers to raise funds for the
Project. However, developers may utilize this space for hospitality components to add to the ones
already indicated above:
► Walk-up apartments: These may be utilized for further hospitality components such as
additional hotels, serviced apartments or Chalets. Developer may choose to utilize this area for
additional farmhouses. Developers may also choose to develop this component after completion
of the mandatory components described above and the farmhouse components described below
(first phase of development). However, the nature of development and timelines for the
development must be agreed in advance at the time of signing the development agreement with
Government of Sindh.
In no event should the resort be seen to be a construction site for an extended period of time and
therefore significantly greater preference shall be given to proposals that complete the
development of this component in the first phase. Regardless, utilities infrastructure must be put
in place in the first phase of development.
► Private Residential Farmhouses: This is the key real estate component of the development
mix and was introduced as the component that may be utilized to raise a significant part of
project finance. The commercial success of this element is critical for the Project, if the developer
opts to adopt this component as the real estate component in the development mix that can be
sold on long term lease. A possible commercial strategy in this regard was developed for the
purposes of the Project feasibility and is outlined later in this section of the Information
Memorandum.
Developers have the option of not selling any or only selling part of this component of the
development mix. Various options in this regard are available, including operating these as an
extension to the hospitality component, offering these on short term leases or introducing the
concept of time share. Where however, this element is being sold on a long term lease to private
individuals or corporate entities, such individuals or entities shall not be permitted to offer these
premises to third party for short letting, other than through the Resort operator. This is necessary
to ensure that the security and maintenance requirements, including environmental standard, are
not compromised.
The utilities and amenities are a very important element of the development and should keep into
consideration the requirements of the entire development. Hence the water treatment plant, sewage
treatment plant and waste management system should cater to the need of the entire development.
Development of a Museum and a Mosque is a requirement of the development. Museum may be
operated in a formal arrangement with the Archaeological department. In addition, a hospital / health
centre for primary health services and medical emergencies, such as accidents, burns and snake
bites, should be maintained.
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Keenjhar Lake Resort Project - Project Information Memorandum