Overview

• Privatization adviser Muhammad Ali says options range from demolishing the shuttered Midtown property for a new tower to keeping the hotel if it proves viable.
• The preferred structure is a joint venture in which Pakistan would contribute the land and a private partner would provide equity.
• Seven groups have bid to advise on the transaction, including Citigroup, CBRE Group, and Savills, with an appointment expected in October 2025.
• Officials expect clearer direction within months following market sounding and the selection of a joint-venture partner.
• The hotel review runs alongside plans to sell or restructure PIA, with a hoped-for sale by November 2025 and an estimated $500 million needed to revive the airline.