What does a Pakistani, a Jew and an Indian have in common? They are all bidding for the building that once housed the defence section of the Pakistan embassy in Washington. According to a report in Dawn, the highest bid of almost $6.8 million has come from a Jewish group that wants to build a synagogue in the building. The second-highest bid of $5 million is from an Indian realtor. A third bid has come from a Pakistani realtor whose bid amount is reported to be around $4 million.
The old building on R Street NW in Washington DC housed the embassy’s defence section from the mid-1950s to early 2000s.
In 2018, the diplomatic status of the R Street building was revoked as it had become non-functional, thereby becoming liable to local taxes. The cabinet agreed to the idea of selling the building in an auction because it was no longer appropriate for use due to incomplete renovations as well. The embassy moved to the new building in early 2000s but Pakistan has kept the old building, having spent close to $7 million in its renovation. The R Street building, however, is said to be in a dilapidated condition with nearby residents complaining about it being a security hazard.
Pakistani Americans in the realty market say that the building should go to the highest bidder for it will create “goodwill” in an influential American community, which wants to use the property as a place of worship.
Also read: Selling embassy property in US — Pakistan is eyeing a new way to curb its economic crisis
In Washington, embassy officials told Dawn that they were also consulting an appraiser to assess what’s better: to sell the building as it is, or to do so after renovation. “We are in no rush, and we will not conclude a deal that does not benefit Pakistan,” the embassy official said. The federal cabinet has already approved the sale.
This isn’t the first time that Pakistan has decided to sell off its prime properties. On Monday, the Cabinet Committee on Privatisation (CCoP) asked the privatisation commission to appoint a financial adviser for leasing the Roosevelt Hotel site in New York. The government is considering a joint venture for a prospective mixed-used development of the site, which Pakistan owns. Finance Minister Ishaq Dar chaired the CCoP meeting.
Pakistan’s debt has jumped to a record high of PKR 60 trillion. Former Prime Minister Imran Khan had made promises to curb the debt while blaming his predecessors for throwing the country into the crisis. But the Pakistan Tehreek-e-Insaf (PTI) government ended up with the highest-ever debt in its 43-month rule. In this context, the Pakistani government has been eyeing ways to make use of its idle properties, as ThePrint has previously reported.
(Edited by Anurag Chaubey)