Egypt's Ministry of Housing signs deals with UAE companies, boosting real estate, healthcare sectors

Egypt’s Ministry of Housing signed two agreements with two Emiriti companies, marking significant developments in the real estate and healthcare sectors.

 

The Ministry of Housing has signed an agreement to allocate land for the establishment of an integrated medical-educational urban project in El Shorouk City for the English company "NHMC." 

 

The estimated investment for the project is around $300 million, with the land value to be paid in foreign currency through transfers from abroad, according to a press statement from the Ministry of Housing on Wednesday.

 

According to the contract, the land is designated for the creation of an integrated medical-educational urban project, with 65 percent allocated for urban development and 35 percent for medical-educational activities. This project is situated on the Cairo-Suez road in El Shorouk City.

 

The project spans approximately 47 feddans and includes the establishment of Elysium Medical City on a 25-feddan area. It involves the creation of the first English-language colleges for Medicine, Nursing, and Physiotherapy in the Middle East and Africa, in partnership with Buckingham University. Additionally, it includes the first educational and private hospital affiliated with Buckingham University in the Middle East and Africa.

 

The project incorporates the establishment of a hospital in collaboration with Johnson & Johnson for precision surgeries on the face, jaw, and knee, along with a specialized medical area for the elderly with a capacity of 76 rooms. Furthermore, the project features a sports academy supervised by medical professionals for individuals with special needs, an international English school, and a comprehensive urban area comprising villas, residential apartments, hotel apartments, administrative buildings for medical specialties, and commercial malls.