Sindh Institute of Urology and Transplantation (SIUT) has successfully signed an agreement with Pakistan Hotel Development Limited (PHDL) for the acquisition of Regent Plaza Hotel. The ceremony marked the formal transfer of the hotel’s title and possession. The event held on Tuesday, was attended by key figures including Professor AdibRizvi, founder and Director of SIUT, and ShabbarZaidi, a trustee of SIUT and the institute’s financial advisor.
Legal and accounting representatives from both parties were also present to oversee the transaction. 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 Rs 14.5 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 has 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 lac 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.
