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2025-05-13 -Signs, Portents, and the Weather-
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Pakistan explores The Roosevelt Hotel joint venture for sustained returns
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[GEO.TV] The government is aiming for a joint venture on the Pakistain International Airlines-owned iconic The Roosevelt Hotel building in Manhattan, New York, to secure long-term financial benefits, Defence Minister Khawaja Asif said on Monday.
''While selling the 19-storey property may offer short-term gains or help repay some debt, a joint venture would preserve the asset and generate sustained value,'' he argued during the question hour at the National Assembly.
Asif highlighted that the hotel's prime location, with two entrances and central positioning, made it a unique piece of real estate, which was unmatched in New York.
''Alternatively, the government is also looking at the option of selling The Roosevelt Hotel entirely,'' Asif said.
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Posted by Fred 2025-05-13 00:00||
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File under: Govt of Pakistan
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Posted by trailing wife 2025-05-13 09:25||
2025-05-13 09:25||
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