Novacare’s PKR 17 Billion Financing Deal Marks Major Step for Islamabad Healthcare Project
LAHORE: Novacare Hospitals has secured a PKR 17 billion syndicated Islamic financing facility for the development of its tertiary care hospital in Islamabad, marking a significant development in Pakistan’s healthcare sector.According to the company, the project is the first greenfield hospital in Pakistan to receive financing through such a facility, opening new avenues for Islamic finance to support major healthcare projects.Novacare Hospital Islamabad is being developed to provide high-quality medical services, with a focus on clinical excellence, patient safety, modern technology, and compassionate care. The hospital is also an International Affiliate of Imperial College Healthcare NHS Trust in the United Kingdom.Speaking at the signing ceremony, Novacare CEO Hans Kedzierski said the hospital aims to deliver quality care through modern technology, empathy, and a strong understanding of patients’ needs.
Raheel Jamal, Director of Marketing and Commercial Operations at Novacare Hospitals, said the financing reflects the confidence of leading Pakistani financial institutions in the project and brings the hospital closer to delivering reliable healthcare services to families.Zafar Masud, President and CEO of The Bank of Punjab, highlighted the importance of healthcare investment, saying it contributes to the dignity, well-being, and future of the communities being served.The Bank of Punjab, UBL, HBL, Pak China Investment Company Limited, PAIR Investment Company Limited, and PakLibya Holding Company participated in the financing arrangement.The agreement is expected to support the development of modern healthcare infrastructure and strengthen access to quality medical treatment in Pakistan.
