A formal agreement was signed, and the transfer of title and possession was completed between the Sindh Institute of Urology and Transplantation Trust (SIUT) and the Pakistan Hotel Development Limited (PHDL).
The PHDL owned the Regent Palace Hotel in Karachi. According to a press release issued by the SUIT, lawyers and accountants representing both sides were present at the ceremony, along with Professor Adib Rizvi, the founder and director of the SIUT and a prominent surgeon in the country. Trustee SIUT Shabbar Zaidi, who is also the institute’s financial advisor, was also present on the occasion.
Regent Plaza Hotel is a landmark four-star multistorey hotel in Karachi. It is located on a major thoroughfare surrounded by several other well-known hospitals. The Regent Plaza Hotel began its journey in the eighties with 400 rooms covering an area of over 13,000 square yards. The news of this historic deal, which first appeared in the media in October last year, marked a significant moment in the city’s history.
The hospital offered to buy the property for Rs14.5 billion as part of its hospital expansion programme, and the deal was amicably settled between the two parties. The SIUT, which bought the land, is one of the country’s leading tertiary care medical institutions and 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 3.5 million patients suffering from renal disorder, cancer, malfunctioning of the liver, and other related ailments. The hospital has also various programmes in the field of medical education and research
Sources of the 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 the hospital management to go for a bigger place. Earlier, the SIUT established similar units in Sukkur, Larkana, and Nawabshah.
Highlighting a redeeming aspect of hospital philosophy, a hospital source said: “It is unprecedented in the country that a commercial plot has been bought in order to convert the land into an institution which is aimed towards mitigating the sufferings of the masses.”
