کارپوریٹ ریئل اسٹیٹ خبریں

Islamabad | ReNews Pakistan
Pakistan Services Limited, the owner and operator of the Pearl Continental (PC) hotel chain, could divide five of its hotel properties between Thatta Cement and Fauji Foundation under a proposed out of court settlement aimed at resolving the company’s long-running ownership dispute.
According to a report by Nukta, the proposed arrangement would transfer PC Karachi and PC Rawalpindi to Thatta Cement, while PC Lahore, PC Bhurban and PC Muzaffarabad would be transferred to Fauji Foundation. The arrangement has not yet been formally announced, and the proposed transfers have not been completed.
The parties have reportedly signed a Memorandum of Understanding (MoU) as part of the proposed settlement. The development follows more than a year of legal and ownership disputes surrounding a voting stake representing approximately 56% of Pakistan Services.
The ownership dispute intensified in July 2025 when AKD Group Holdings and Muhammad acquired holdings that together represented nearly 56% of the company’s voting shares. The Hashwani Group, which acquired Pakistan Services in 1985, challenged the transactions and later described the development as a hostile takeover.
During the dispute, Thatta Cement acquired approximately 28% of Pakistan Services in October 2025 and sought fresh elections for the company’s board. The Islamabad High Court subsequently suspended the proposed election and restricted the sale or transfer of the disputed shares.
The court also barred the new shareholders from interfering in the company’s day to day management, keeping the ownership structure, board composition and management control at the centre of the prolonged legal dispute.
PC Peshawar is not part of the proposed settlement, as the property had previously been sold separately to Serena Hotels. The proposed arrangement therefore covers five of the remaining major hotel properties owned by Pakistan Services.
If completed, the settlement could bring an end to the ownership dispute that has surrounded Pakistan Services for more than a year. However, the final terms, timing and implementation process remain unclear, with the proposed transfers yet to be completed.
Pakistan Services’ shares have also experienced significant volatility during the dispute. The stock fell from a 52 week high of Rs1,635 to Rs799, before recovering to around Rs830.
Completion of the proposed settlement could result in a significant restructuring of ownership across Pakistan Services’ hotel portfolio and may also mark a new phase for the company’s management, investment strategy and future development of its remaining hospitality assets.

Pakistan Services Limited (PSL), the owner and manager of the Pearl Continental hotel chain, has told the Pakistan Stock Exchange (PSX) that it was not informed of a definitive agreement between Thatta Cement Company Limited and Fauji Foundation regarding PSL’s proposed restructuring. In a filing to the stock exchange on Thursday, PSL said it had not received notice of the agreement disclosed by Thatta Cement a day earlier. The company also clarified that it was not a party to the agreement.