Will Pakistan Secure a Joint Venture Partner for Roosevelt Hotel at ≥$1B Valuation Before March 31, 2026?

Pakistan aims to sell a minority stake in the iconic Roosevelt Hotel (NYC) at a $1 billion+ valuation under its IMF-mandated privatization drive. Critical hurdles include: Tight Deadline: The government targets deal closure within 6–9 months (by Q1 2026), but complex negotiations with developers could delay terms. Valuation Risks: Despite prime location near Grand Central/Times Square, the property has been loss-making since 2020 and requires $100M upfront payment by June 2026 to meet IMF targets. Structural Challenges: Converting the 42,000 sq ft site to residential-office space needs 4–5 years, raising investor concerns about ROI timelines. *Admin resolves via Privatization Commission records; YES = binding JV agreement signed at ≥$1B valuation by deadline. Sources: https://www.reuters.com/world/asia-pacific/pakistan-eyes-1-billion-valuation-roosevelt-hotel-redevelopment-plan-source-says-2025-07-10/