Pakistan Seeks $1 Billion Valuation in Roosevelt Hotel Redevelopment Plan

Pakistan is targeting a $1 billion valuation for the Roosevelt Hotel Pakistan, a landmark New York property owned by Pakistan International Airlines (PIA), as part of a redevelopment plan that includes selling a minority stake to attract joint venture investment. The 42,000-square-foot hotel, located at Madison Avenue and 45th Street in Manhattan, is expected to be transformed into a mixed-use residential and commercial complex.

The redevelopment project will be overseen by real estate firm Jones Lang LaSalle (JLL), with completion anticipated within 4 to 5 years. Pakistan will retain ownership through an equity partnership model rather than pursuing a full sale. Posts on X point to growing interest among international investors, drawn to the Roosevelt Hotel Pakistan’s prime location and heritage value.

Previously, estimates placed the hotel’s base value at $100 million, but with redevelopment permissions and planning approvals, analysts suggest the final valuation could double. This initiative is part of Pakistan’s larger privatization drive for FY2025–26, which includes raising Rs. 86 billion through the divestment of assets like PIA and other state-owned entities.

The Roosevelt Hotel Pakistan’s revival is viewed as a strategic move to generate long-term revenue while addressing the country’s fiscal needs through asset optimization.

Published in SouthAsianDesk, July 10th, 2025

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