SIUT plans to buy Regent Plaza hotel to build hospital, offers Rs14.5bn
Pakistan
Built over 13200 sq yards land, Karachi hotel has 400 rooms
KARACHI (Web Desk) - Sindh Institute of Urology and Transplantation (SIUT) Trust has offered Rs14.5 billion to Pakistan Hotel Developers Limited (PHDL) for purchase of Hotel Regent Plaza in order to convert the same into tertiary-care general hospital.
According to reports carried by a section of press, the hotel comprises 400 rooms with an occupancy rate of 20 percent for the 2021-22 fiscal year. The five-star hotel in Karachi has been built on a plot measuring 13,200 square yards.
Speaking to a media outlet, SIUT Trustee Syed Shabbar Zaidi confirmed they had offered to buy the hotel, saying it was a 47,000 square feet built structure. He said the structure could be converted into a healthcare facility within a span of one year.
He said Karachi was badly needing another tertiary-care health facility and constructing a large health facility by acquiring land would take years. In these circumstances, it is the best option to acquire a built structure in the heart of the city and convert it into a health facility,” said Zaidi.
He maintained that it was close to most of the health facilities, including the National Institute of Cardiovascular Diseases (NICVD), the National Institute of Child Health (NICH) and the Jinnah Postgraduate Medical Center (JPMC).
He said the deal was yet to be accepted by the PHDL but hoped that they would accept the offer keeping in view the interests of the people of Pakistan as well as other countries who come to Karachi for treatment of various complicated ailments.
Regarding the availability of funds, he vowed to take loans and raise funds from the public to acquire the facility.
