HomeHot NewsPakistan embassy property in US gets highest offer of $6.8m

Pakistan embassy property in US gets highest offer of $6.8m

The highest offer for a property owned by the Pakistan embassy in Washington was made by American businessman Shahal Khan, who is of Pakistani descent.

Mr. Khan, who has the best chance of winning the bid, is the head of Burkhan World Investments in the US capital. On its official website, the company identified itself as an investor in projects “that it believes will have a positive impact on our society.”

According to reports, an American investment firm placed the third-highest bid, and the second-highest bid was made by a Jewish organization that wants to build a synagogue on the property.

According to reports, Mr. Khan plans to develop the Khan Institute of Economic Security and Peace at American University property as a center of peace.

In November of last year, Marriyum Aurangzeb, the federal minister for information, disclosed that the federal cabinet had approved the transparent sale of two Washington, D.C., buildings owned by the ministry of foreign affairs. The Pakistan embassy moved to its new location in the US capital in 2003, leaving the buildings at 2201 R Street and 2315 Massachusetts Avenue empty.

After their diplomatic status was revoked, according to Ms. Aurangzaib, the government was required to pay the US government $819,000 in taxes. The information minister told the media, “We have to pay $1.3 million in tax if the property is not sold.

Read: Another $1 billion is due for Pakistan

Although more than ten years had passed since the former prime minister approved renovations to the buildings, they were never completed.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Crypto

Business

Technology