The under-construction Grand Hyatt Hotel on Friday has lost a legal proceeding with the Capital Development Authority (CDA) over land ownership of the under construction Grand Hyatt Hotel and high rise twin residential towers. The Islamabad High Court (IHC) dismissed petitions against the cancellation of the lease of the land on which the five-star hotel and luxury apartments were being constructed.
In July 2016, the CDA had cancelled the lease of the company on account of violation of bylaws and the case was referred to National Accountability Bureau (NAB) and Federal Investigation Agency (FIA) for further investigation. M/S BNP the builder of Grand Hyatt and high-rise twin residential towers and the buyers of the residential apartments had challenged the case in Islamabad High Court (IHC).
The court decision is expected to affect the investment of some 240 prominent political and social entities including Imran Khan, Governor SBP, Khwaja Asif’s son, Chairman PEMRA Absar Alam, TV anchor Nasim Zehra, judges and bureaucrats amongst others.