Pakistan Seeks $4-5 Billion Investment For Roosevelt Hotel Redevelopment

Pakistan is actively seeking between $4 billion and $5 billion in joint investment to redevelop the Roosevelt Hotel in New York, with plans to appoint a financial adviser by early March 2026 to structure the transaction. Muhammad Ali, the prime minister's adviser on privatization, emphasized that the government aims to retain ownership of the hotel while allowing a private partner to arrange financing for its reconstruction. He stated, "The objective is to generate long-term benefits for the country rather than sell the high-value asset outright." The Roosevelt Hotel, owned by Pakistan International Airlines through its subsidiary, has been closed since 2020 due to financial losses, and the government is exploring various options to monetize or redevelop this significant overseas asset. The hotel is strategically located near Grand Central Terminal and Times Square, making it one of Pakistan's most valuable properties abroad.