- January 8, 2019
- Posted by: RBS Admin
- Categories: News & Events, Press Release
Movenpick Hotels & Resorts is set to manage a new hotel in the heart of Pakistan’s first smart city, growing its portfolio in the country to four properties strong.
The hospitality firm has signed an agreement with Smart Properties, an affiliate of Pakistan’s leading real estate developers Future Development Holdings (FDH). Thus, it will allow them to operate Movenpick Hotels & Residences in Capital Smart City Islamabad, which is expected to open in 2023.
Capital Smart City is a mega development project featuring residential, retail, commercial, entertainment & hospitality components that are just five minutes driving distance from Islamabad’s New International Airport. Located on the main road connecting Pakistan’s capital with Lahore, second most populous city, home to almost 12 million people.
Mr Andrew Langdon, Global Chief Development Officer of Movenpick Hotels & Resorts explained about Capital Smart City. He believed that this new dynamic development will proved to be hub for modern commercial activities. Furthermore, popular international and national organizations will cater their needs. It will range from short to long term accommodation options, complemented by attractive business and leisure facilities.
Signing this management agreement is a strategic move that strengthens our cluster development strategy in Pakistan. A country where we have one property in operation & now three more hotels in the pipeline, as we look to leverage the strong growth potential of this relatively untapped market. Moreover, it also sets Movenpick on track to become the largest international hotel operator in Pakistan.
Movenpick Hotels & Residences in Capital Smart City Islamabad is the hotel group’s second property planned for the city. This will feature 250 hotel rooms and 150 serviced apartments. Also, four dining venues, meeting facilities, a fitness center and two swimming pools planned.
Mr Luis Fernandez-Reyes, Chief Development Officer, Smart Properties expressed his view. He said that it will be perfect move on the part of Capital Smart City Islamabad. A landmark development, Capital Smart City Islamabad, will surely become a new economic powerhouse for Pakistan. We have partnered with Movenpick Hotels & Resorts beacuse of their strong market knowledge and proven track record of operating upscale properties across the region. Thus, it will be a call for high-quality accommodation and hospitality offerings.
Movenpick currently operates Movenpick Hotel Karachi & has two more hotels actively developing in Pakistan. They include Movenpick Hotel Centaurus Islamabad, set to open in 2019 and Movenpick Hotel & Apartments Lahore, raised for completion in 2021. — SG