HBL gives Rs1 billion for Naya Nazimabad Hospital

Staff Reporter BOL News

01st Oct, 2021. 10:46 am

KARACHI: The parent company of Naya Nazimabad, Javedan Corporation Limited (JCL), has received an amount of Rs1 billion from Habib Bank Limited (HBL) under the SBP’s Islamic Refinance Facility at zero per cent markup for the construction of Naya Nazimabad Hospital, a statement said.

Naya Nazimabad had initially planned to construct this hospital in 2025 but the SBP’s Islamic Refinance Facility and HBL’s contribution to participate in this project by passing on this facility at zero per cent enabled and encouraged Naya Nazimabad to advance the construction of the hospital by four years.

The Naya Nazimabad Hospital, a tertiary, not-for-profit but self-sustainable institution, will be developed in two phases. The first phase will consist of 250 beds across four floors and is targeted to be inaugurated by April 2023.

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

The company plans to perform the groundbreaking for the hospital as soon as all requisite approval 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 [the] world-class amenities,” Javedan Corporation Limited chairman Arif Habib said.

“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 healthcare 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, conceptualised and developed with the vision of providing a peaceful community atmosphere and a healthy lifestyle.

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