The Privatization Commission on Friday signed a a financial advisory services agreement with a consortium led by Jones Lang La Salle Americas Inc (JLL) for joint venture development of Roosevelt Hotel, New York, United States, a property owned by the Pakistan International Airlines Investment Limited (PIAIL).
Caretaker Federal Minister for Privatization Fawad Hasan Fawad witnessed the signing of the agreement, a news release said.
Speaking on the occasion, the minister expressed the Pakistan Government’s commitment for developing the historic and landmark site in the heart of financial capital of the world as an iconic structure with the most modern development features and standards.
He expressed his full confidence in the ability and expertise of the Financial Advisory Consortium to find the best possible partners and realize its maximum potential value.
In a subsequent meeting, a detailed road map and time bound milestones were also agreed leading to identification and selection of the potential joint venture partners for the project.—APP
