Back to the complete issue
Monday, 30 April 2018

Egypt Care to launch first phase of EGP 15 bn new capital medical city in 3Q2018

EXCLUSIVE-Egypt Care to launch first phase of EGP 15 bn new capital medical city in 3Q2018: Egypt Care intends to launch the first phase of its medical city at the new administrative capital in 3Q2018, according to Chairman Hassan Al Qalla. Construction has already started, Al Qalla told Enterprise, adding that his company had tapped HKS Architects from the United States to design infrastructure for the EGP 15 bn Capital Med City. The project, which will be run by a JV between Egypt Care and a number of foreign investors, is being funded by a mix of bank debt and the shareholders’ own resources, Al Qalla said, and will take 5-7 years to complete over four phases of construction.

Egypt Care and its partners are planning to list their JV on the EGX within two years’ of its establishment, Al Qalla also said, explaining that an IPO would help finance development. Once fully operational, Med Capital will be home to as many as 2,000 hospital beds, a public hospital, clinics, a trauma center, 11 specialized medical centers, and a hotel.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.