Karachi: Pakistan Hotel Development Limited (PHDL) signed formal agreement with Sindh Institute of Urology and Transplantation (SIUT) and transferred title and possession of Karachi’s Regent Plaza Hotel to provincial institute.

Press release issued by SIUT said that lawyers and accountants from sides including founder and SIUT Director Professor Adib Rizvi and SIUT’s Trustee Shabbar Zaidi, were present at formal agreement signing ceremony. Last year, PHDL which owned Regent Plaza told investors that SIUT had offered to buy its property for Rs 14.5 billion. Purchase was finalised by SIUT to convert it into hospital in July. Regent Plaza Hotel and Convention Centre is located on main Sharea Faisal in an area of 13,200 square yards. Total covered area of multi-storey building is 47,034 square yards. 1500-bed SIUT is located in congested part of old city. Patients from all parts of country come here for treatment due to its high quality of care, extensive range of services and unique model of free care at point of contact. Newly acquired property is strategically located in city’s heart, near other major hospitals and boasts excellent public transport access. Its proximity to cantonment railway station will facilitate easier access for patients from other parts of country, alleviating need to navigate congested area where SIUT’s flagship hospital currently operates, it added.