Pakistan, US sign pact to redevelop New York's Roosevelt Hotel

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Pakistan, US sign pact to redevelop New York’s Roosevelt Hotel

A view of The Roosevelt Hotel in midtown Manhattan in New York City, U.S., February 24, 2025. REUTERS/Adam Gray · Reuters

By Ariba Shahid

Thu, February 19, 2026 at 10:58 PM GMT+9

By Ariba Shahid

KARACHI, Feb 19 (Reuters) - Pakistan ‌has signed an ‌agreement with the United ​States to jointly redevelop New York’s Roosevelt Hotel, according to ‌four ⁠official documents reviewed by Reuters and ⁠two sources, in a deal ​between the ​two ​governments that will ‌allow Islamabad to unlock the value of one its most prized overseas investments.

The ‌two countries ​signed a ​memorandum ​of understanding ‌on Thursday shortly after ​Pakistan’s ​cabinet approved the process, two sources ​told ‌Reuters.

(Reporting by Ariba ​Shahid; Editing by ​YP Rajesh)

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