PROJECT

Projects

Environmental & Social Review Summary

Project Number

25676

Company Name

TOURISM PROMOTION SERVICES (PAKISTAN) LIMITED

Date ESRS Disclosed

Feb 21, 2007

Country

Pakistan

Region

Middle East

Last Updated Date

Feb 4, 2017

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Mar 28, 2007
Signed : Mar 30, 2007
Invested : May 21, 2007

Sector

City and Business Hotel

Industry

Tourism, Retail and Property

Department

Regional Industry MAS MCT

Project Description

Tourism Promotion Services (Pakistan) Limited (TPSP) is a subsidiary of The Aga Khan Fund for Economic Development (AKFED). TPSP owns and operates a network of six hotels throughout Pakistan under Serena brand name. With a cost of US$75 million, TPSP will develop:

- additional 213-room hotel building as an extension to the existing Islamabad Serena Hotel which would double its capacity along with ancillary services; and
- an office building of approx 230,000 square feet, rentable space etc.

Islamabad Serena Hotel is considered the best in the city due to its superior quality, service standards and location. The project will address rising demand for accommodation and office space driven largely by the increase in corporate activity and the economic growth of the country.

Overview of IFC's Scope of Review

IFC’s review consisted of :

- a site visit to the TPSP’s Islamabad Serena Hotel (ISH) property and an inspection of the extension project construction;
- a site visit to the company’s Faisalabad Serena Hotel property;
- detailed discussions with the company’s Chief Engineer, who is responsible for the environmental and life and fire safety management systems for all TPSP properties;
- detailed discussions with TPSP’s general manager of the extension project regarding the development of the greenfield site and planned environmental and live and fires safety management systems;
- detailed discussions with the company’s Environmental Consultant regarding the environmental monitoring systems in place at ISH and the performance of those systems; and
- review of the ISH environmental monitoring report and the ISH extension project EIA report.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Client Documentation

File Name Actions
CAP-TPSP.pdf