KARACHI: Formal agreement signing and transfer of the title and possession was carried between SIUT (Sindh Institute of Urology and Transplantation) Trust and Pakistan Hotel Development Limited (PHDL) which owned Regent Place Hotel of Karachi here at a ceremony held between the two parties.
Also present at the ceremony were lawyers and accountants representing both sides besides Professor Adib Rizvi who is the founder and Director of SIUT and a prominent surgeon in the country. Trustee of the SIUT Shabbar Zaidi who is also the financial advisor of the Institute was also present on the occasion.
Regent Plaza Hotel is a landmark four-star multistoried hotel of Karachi located on a major thoroughfare of the city which is surrounded by a number of other known hospitals. Regent Plaza Hotel started functioning in the eighties with 400 rooms covering an area of over 13,000 square yards.
The news of this deal saw the light of day when it came in the media in October last year when the hospital offered to buy the property at a cost of Rs14.5 billion as a part of its hospital expansion program. The deal was amicably settled between the two parties.
SIUT which bought the land is one of the country’s leading tertiary care medical institutions which have been providing wide-ranging medical services for the last five decades totally free and with a universal message that “Health is the birthright of every individual and should not be denied to anyone on the basis of cast, color, religion or financial background. The growth and development of the SIUT is a phenomenal story of an institution reflecting dedication, zeal, and compassion for the masses particularly those who represent the marginalized segment of the society. Only last year the hospital treated 35 lakh patients suffering from renal disorder, cancer, malfunctioning of the liver, and other related ailments. The hospital has also various programs in the field of medical education and research.
Sources of SIUT said that the ever-increasing inflow of patients particularly those coming for dialysis has put great pressure on the institute and the paucity of space has forced hospital management to go for a bigger place. Earlier SIUT established similar units in Sukkur, Larkana, and Nawab Shah.
Copyright Business Recorder, 2024
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