{"id":2845,"date":"2023-09-11T04:41:05","date_gmt":"2023-09-11T04:41:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/process-begins-to-appoint-adviser-for-roosevelt-hotel\/"},"modified":"2023-09-11T04:41:05","modified_gmt":"2023-09-11T04:41:05","slug":"process-begins-to-appoint-adviser-for-roosevelt-hotel","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/process-begins-to-appoint-adviser-for-roosevelt-hotel\/","title":{"rendered":"Process begins to appoint adviser for Roosevelt Hotel"},"content":{"rendered":"<p><\/p>\n<div dir=\"auto\">\n<p>ISLAMABAD: The Privatisation Commission has started work to appoint a financial adviser to undertake the process for leasing of Roosevelt Hotel in New York for setting up a joint venture project for prospective mixed-use development.<\/p>\n<p>Following a decision taken by the Cabinet Committee on Privatisation last month, the commission has invited proposals for appointing the financial adviser.<\/p>\n<p>The financial adviser will advise the government to undertake the envisaged leasing of the Roosevelt site for prospective mixed-use development through the best-suited mode of privatisation.<\/p>\n<p>The government has asked the commission to undertake the leasing of Roosevelt site for setting up a joint venture project for prospective mixed-use development.<\/p>\n<p>The Roosevelt Hotel is planned to be converted into a 40-storey multi-purpose complex serving as a business hub.<\/p>\n<p>The hotel is owned by PIA Investments Ltd (PIAIL). It was closed in 2020 due to financial losses.<\/p>\n<p>The hotel was reopened as a temporary migrant housing amid a sharp increase in the number of asylum seekers travelling to New York City this year under an agreement signed with the New York City government.<\/p>\n<p>So far 900 rooms have been rented out while the remaining rooms will be rented out after completion of the renovation work.<\/p>\n<p>The PIAIL expects to earn $220 million by leasing out the hotel to the city government for three years.<\/p>\n<p><em>Published in Dawn, September 11th, 2023<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The Privatisation Commission has started work to appoint a financial adviser to undertake the process for leasing of Roosevelt Hotel in New York for setting up a joint venture project for prospective mixed-use development. Following a decision taken by the Cabinet Committee on Privatisation last month, the commission has invited proposals for appointing the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2023\/09\/11093442ee5cc04.jpg?r=093639","fifu_image_alt":"","footnotes":""},"categories":[192],"tags":[],"class_list":["post-2845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-islamabad-news"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/2845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=2845"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/2845\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/2846"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=2845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=2845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=2845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}