Pakistan-US Advance Cooperation Framework on New York’s Roosevelt Hotel

By Elaine Pasquini

  

Washington, DC: On February 19, 2026, the government of Pakistan and the United States have formally launched a strategic economic initiative, including collaboration with the US General Services Administration (GSA) regarding the operation, maintenance, renovation, and redevelopment of the Roosevelt Hotel in New York City.

This engagement was negotiated and stewarded by US Special Envoy Steve Witkoff under the leadership of President Donald J Trump.

To advance this partnership, both governments have signed a Memorandum of Understanding (MoU) formalizing their cooperation. The document was executed by GSA Administrator Edward C Forst on behalf of the United States and Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on behalf of Pakistan and witnessed by Prime Minister Mian Muhammad Shehbaz Sharif of Pakistan and US Special Envoy Steve Witkoff.

The MoU establishes a structured, time-bound framework for joint evaluation of the technical, commercial and economic parameters of cooperation, reflecting a shared commitment to transparent, disciplined and mutually beneficial progress.

Given the Roosevelt Hotel’s prime location in mid-town Manhattan and the complexity of New York City zoning and municipal processes, institutional coordination aims to reduce execution risk, enhance regulatory clarity and maximize transaction value. Such facilitative frameworks are consistent with international practice in cross-border real estate and infrastructure projects.

The objective remains to secure maximum value for this unique property in alignment with the government’s privatization strategy while strengthening economic ties between Pakistan and the United States.

(Elaine Pasquini is a freelance journalist. Her reports appear in the Washington Report on Middle East Affairs and Nuze.Ink.)