The federal government has officially transferred eleven premium properties belonging to Pakistan International Airlines, collectively valued at fourteen point two billion rupees, to the private consortium that recently acquired management control and a seventy-five percent stake in the national carrier. The Privatisation Commission formally shared this development with the Senate Standing Committee on Privatisation during a briefing on Tuesday. According to official reports, the transferred assets were carefully selected from the airline’s broader real estate portfolio of forty-four properties, leaving the remaining thirty-three properties under the ownership and custody of the state-owned PIA Holding Company.
The total valuation of these transferred properties represents a significant financial appreciation, coming in at four point two billion rupees higher than the initial ten billion rupees in cash sales proceeds paid directly to the government during the first closing of the transaction. The local real estate segment of the transfer includes four high-value commercial and administrative structures located in primary urban centers across Pakistan. Among these is the prominent PIA Booking Office located on Mall Road in Rawalpindi, which is valued at two point three billion rupees, and the Peshawar Sales Office situated on Mall, Arbab Road, valued at a substantial five point one billion rupees. The transaction also includes the PIA Sales Office on Jinnah Avenue in the high-profile Blue Area of Islamabad, valued at two point four billion rupees, and the Quetta Sales Office building on Shahra Hali in the Cantonment area, valued at eight hundred and thirty-seven point four million rupees.
In addition to the domestic real estate, the commercial agreement packages seven highly valuable overseas properties to help support the airline’s international footprint and administrative operations. In India, the consortium has taken possession of Flat Number 32 on the third floor of the Jolly Maker-Three building at J.D. Somani Marg, Cuffe Parade in Mumbai, which is valued at one hundred and twelve point five million Indian rupees. The deal also includes the fifth and sixth floors of the Narain Manzil building in New Delhi, carrying an estimated valuation of one hundred and twenty-one point ninety-two million Indian rupees. In Europe, three distinct properties located in Amsterdam have been handed over to the new management, including a site at Leidsestraat 17 valued at two point one million euros, an office at Koningsvaren 109 valued at seven hundred and fifty thousand euros, and a location at Van Nijenrodeweg 835 valued at five hundred and eighty-three thousand euros.
The international transfers are completed by two other overseas residential assets. These include a strategic property in Tashkent valued at four billion Uzbekistani som, alongside a high-end residential estate located at 55 Saxon Woods Road in Scarsdale, New York, which carries an official appraisal value of one point seven million dollars. During the committee meeting, which was chaired by Senator Afnan Ullah Khan, officials also revealed that the incoming corporate leadership has formalized its plans to establish Islamabad International Airport as the primary operational and transit hub for the airline’s modernized fleet moving forward.
The comprehensive divestment of the seventy-five percent controlling interest in the national flag carrier was successfully finalized on June 29, 2026, marking the formal handover of management control to the purchasing consortium. As part of their operational commitment to revitalize the struggling airline, the buyers have already injected eighty billion rupees of fresh equity directly into the company. This massive capital injection is legally earmarked for rapid fleet expansion, network modernization, route development, general operational enhancements, and improving the quality of passenger services. Under the agreed transaction framework, the purchasing consortium has already declared its formal intent to acquire the remaining twenty-five percent government-held stake within twelve months of the initial closing. This final phase of the privatization roadmap will require an additional payment of forty-five billion rupees to the federal government, bringing the total cash consideration for full one-hundred percent ownership of the airline to fifty-five billion rupees.
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