Naya Nazimabad receives first tranche from Rs 1b sanctioned by HBL

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Staff Reporter
Karachi

The parent company of Naya Nazimabad, Javedan Corporation Limited (JCL), has received the first tranche from PKR 1 billion under SBP’s Islamic Refinance Facility at zero percent (0%) mark-up for construction of Naya Nazimabad Hospital.

Habib Bank Limited sanctioned this disbursement in accordance with the Financing Agreement for the construction of the first phase of the 250 bed tertiary care hospital at Naya Nazimabad.

Nay Nazimabad had initially planned to construct this hospital in 2025 but SBP’s Islamic Refinance Facility and HBL’s contribution to participate in this project initiative by passing on this facility at zero percent (0%) enabled and encouraged Naya Nazimabad to advance construction of the Hospital by 4 years.

Naya Nazimabad Hospital, a not-for-profit but self-sustainable institution, will be developed in two phases.

The first phase will consist of 250 beds across 4 floors and is targeted to be inaugurated by April 2023.

First phase’s architectural approval has been granted by Sindh Building Control Authority (SBCA), Government of Sindh, while engineering approval is in process at a swift pace.

The Company plans to perform ground-breaking for the Hospital as soon as all requisite approvals processes are complete.

“Naya Nazimabad is a labour of love for us and we are committed to providing a holistic living experience to all our residents with world-class amenities”, said Chairman, Javedan Corporation Limited, Mr. Arif Habib.

“Ali Habib Medical Centre is already serving the community but we felt that there are not enough hospitals of this scale to cater to the area’s needs hence we have embarked on this journey so we may be able to offer quality and affordable health care to all.”

Naya Nazimabad is an integrated housing scheme which focuses on healthy community living. It is the largest master-planned, gated residential development in Karachi and will house more than 30,000 families at its completion.

It has the provision for all necessary amenities for today’s living, within walking distance for its residents.

Naya Nazimabad is a self-contained city, conceptualized and developed with the vision of providing a peaceful community atmosphere and a healthy lifestyle.

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