Pakistan has formally partnered with the U.S. General Services Administration (GSA) to renovate and redevelop the Roosevelt Hotel in New York City, a historic national asset acquired through Pakistan International Airlines (PIA). Once a closed and loss-making property, the hotel is now being repositioned as a structured, revenue-focused project targeting long-term dollar-based returns from its prime Midtown Manhattan location near Grand Central Terminal.
By leveraging U.S. institutional expertise, Pakistan is navigating complex zoning, regulatory approvals, and execution risks inherent to Manhattan real estate. The initiative represents a shift from passive foreign asset ownership to active, professionally managed redevelopment strategies, ensuring that the Roosevelt Hotel can generate sustainable economic value for the country.
Strategic Collaboration and Economic Returns
Engaging directly with U.S. federal authorities reduces uncertainty, increases investor confidence, and aligns diplomatic and commercial interests. This partnership demonstrates Pakistan’s commitment to converting strategic overseas assets into commercially viable opportunities while adhering to high regulatory and operational standards.
With structured coordination and U.S. backing, the redevelopment will transform the Roosevelt Hotel into a high-yield property, signaling Pakistan’s ability to manage complex international projects and unlock latent value from dormant assets. This move positions the country not only as a custodian of strategic holdings abroad but also as an active participant in maximizing their economic potential through professional, revenue-oriented strategies.
