PIAHCL retains 36 domestic, overseas properties

July 15, 2026 (MLN): Pakistan International Airlines Holding Company Ltd. (PIAHCL) has retained 36 domestic and overseas properties following the sale of 11 assets under the national carrier's privatization process.

A Privatization document showed that the remaining assets are located in Pakistan, the United States and France, and include landmark overseas properties such as the Roosevelt Hotel in New York and the Scribe Hotel in Paris, along with sales offices, warehouses, a farmhouse, housing colonies and hundreds of acres of land.

Seven properties excluded from the privatization deal were handed over to PIAHCL via gazette notification SRO 475(I)/2026, issued March 4, 2026.

These comprised the PIA Planetariums located in Karachi, Lahore and Peshawar, the Jahangir Sports Complex and Football Ground in Karachi, the Dayal Singh Mansion office in Lahore, and Plot No. 57 situated in Islamabad's Blue Area.

The Blue Area plot, estimated at roughly Rs12bn, was shifted from Pakistan International Airlines Corp. Ltd. (PIACL) to PIAHCL.

Meanwhile, Privatization Commission records indicated that 11 properties formed part of the privatization deal, covering PIA booking and sales counters in Islamabad, Rawalpindi, Peshawar and Quetta, along with foreign properties in Mumbai, New Delhi, Amsterdam, Tashkent and New York.

Domestic commercial holdings were assessed in the transaction document in billions of rupees, whereas foreign assets were denominated in respective local currencies  Indian rupees, euros, Uzbekistani som and US dollars.

The document additionally noted that assets retained by PIAHCL may be deployed toward clearing the company's pending liabilities.

The government anticipates finalizing the sale of the remaining 25% stake in PIA within the ongoing fiscal year, with proceeds estimated at Rs45bn.

The retained holdings further encompass over two dozen domestic properties, including sales offices nationwide, an Islamabad warehouse, Karachi residential units, housing colonies, land parcels in Gilgit, Sukkur, Dera Ismail Khan and Karachi, and the Avant Hotel in Karachi, alongside the overseas Roosevelt and Scribe hotels.

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