Story perspectives

Pakistan Disputes JPMorgan's Bid for Roosevelt Hotel Redevelopment

3/9/2026

Summary

Story summary

The Financial Times reports Pakistan blocked JPMorgan Chase's bid for Roosevelt Hotel, but the claim's validity is questioned.
Pakistan International Airlines (PIA), the nominal owner, has long sought redeveloping the site into a high-rise.
There is no evidence that JPMorgan Chase pursued the property, while PIA is evaluating proposals led by Morgan Stanley.
An agreement with the U.S. General Services Administration aims to redevelop the Roosevelt, not merely maintain it.

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Story summary

The Financial Times reports Pakistan blocked JPMorgan Chase's bid for Roosevelt Hotel, but the claim's validity is questioned.
Pakistan International Airlines (PIA), the nominal owner, has long sought redeveloping the site into a high-rise.
There is no evidence that JPMorgan Chase pursued the property, while PIA is evaluating proposals led by Morgan Stanley.
An agreement with the U.S. General Services Administration aims to redevelop the Roosevelt, not merely maintain it.