In an intriguing turn of events, it has come to light that Pakistan recently sold a remarkable historic building that had been owned by its embassy in the capital city of the United States. Surprisingly, this majestic structure had remained vacant since the year 2003, becoming a ghostly reminder of the past. According to reports, the property classification of the Pakistan Embassy-owned building was downgraded by the authorities, resulting in an inevitable increase in taxes based on its assessed value.
Local authorities took the decision to change the class status of this old and crumbling building, which had once served as a chancery in its heyday. Late last year, this captivating property was put up for auction, attracting the attention of potential buyers. In an intense bidding war, the highest bidder at that time valiantly offered an impressive sum of $6.8 million for the esteemed building.
It is important to note that the building had been unoccupied for quite some time, and in 2018, its diplomatic status was revoked. This revocation had a significant consequence, making the property liable to pay taxes to the local government. Seizing this unique opportunity, a businessman of Pakistani origin named Hafeez Khan stepped forward and acquired the prestigious Pakistan mission property for an even more remarkable sum of $7.1 million from the government.
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This captivating tale of a vacant embassy building, once filled with bustling diplomatic activity, now finding new ownership in the hands of a Pakistani entrepreneur, adds another fascinating chapter to the tapestry of international real estate transactions.
