Commencement of Project Development Activities for setting up of 5 star hotel at Zakir Hossain Road, Chittagong
Posting Date: 16 October, 2014
The Public Private Partnership (PPP) Office under the Prime Minister’s Office, Government of Bangladesh has recently selected Feedback Infra (P) Limited (Feedback Infra) for providing the transaction advisory services for development of 5 Star Hotel in Chittagong under PPP model. The agreement was signed between PPP Office and Feedback on 16th October 2014.
Chittagong, the leading commercial and tourism hub of Bangladesh has a vast scope for development of premium hospitality projects. Bangladesh Railways (BR), the implementation agency for this project, owns just over 4.14 acre unused land parcel in Chittagong. BR is now looking at development of this site as a landmark 5 star hotel project aimed at both meeting the growing needs of business and leisure tourists visiting the city.
This project will be amongst the first PPP projects undertaken by the PPP Office in tourism sector and is envisaged to be a pioneer hospitality project in Chittagong. The PPP model will enable private sector participation in the hotel industry, while bringing best-in-class technical, design, financing, construction and operations & maintenance capabilities.
Feedback Infra is a leading infrastructure and real estate consulting firm with vast expertise in providing advisory and transaction support to public and private clients across the globe.
Feedback Infra will assist BR in undertaking detailed feasibility study, development of a suitable PPP structure and carry out bid process management for selection of the private partner for implementation of this project. The scope of work includes conducting detailed market study, site analysis and technical studies to arrive at the most optimum project concept and configuration.