Karachi’s renowned landmark, the Regent Plaza hotel, has received an enticing offer of Rs14.5 billion from the Sindh Institute of Urology and Transplantation (SIUT) Trust, with plans to convert the property into a state-of-the-art tertiary-care general hospital.
The SIUT Trust, a non-profit healthcare organization, has set its sights on the property currently owned by Pakistan Hotel Developers Limited (PHDL) and envisions a swift transformation into a healthcare facility within just one year.
In an exclusive interview with The News, Syed Shabbar Zaidi, SIUT Trustee, confirmed the proposal and highlighted the unique advantages of this location. “Karachi desperately needs an additional tertiary-care health facility. Constructing a large healthcare center from scratch would be a time-consuming endeavor. Acquiring an existing 47,000 square feet structure in the heart of the city presents the best solution,” stated Zaidi. The Regent Plaza strategically situated in proximity to key health facilities. It is including the National Institute of Cardiovascular Diseases (NICVD). The National Institute of Child Health (NICH), and the Jinnah Postgraduate Medical Center (JPMC) included.
SIUT Deal With Regent Plaza
While the deal is still pending approval from PHDL, Zaidi expressed optimism that they would accept the offer for the greater good of Pakistan and the international patients who seek treatment in Karachi for various complex medical conditions.
The PHDL also owns two additional pieces of land in Thatta, covering a total area of approximately 14 acres. Meanwhile, as of the latest available data, the hotel boasts 400 rooms with an occupancy rate of 20% for the fiscal year 2021-22. It is marked an improvement from the 9% occupancy rate in the previous year due to the COVID-19 pandemic.
In the first nine months of the 2022-23 fiscal year, PHDL reported a net profit of Rs45.5 million. It is representing a 38.3% decrease from the previous year.
The transformation of the iconic Regent Plaza into a general hospital stands as a promising development for Karachi’s healthcare landscape. It is offering a much-needed boost to tertiary-care facilities in the city.
 Trust, with plans to convert the property into a state-of-the-art tertiary-care general hospital.){kind=link}