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Abu Dhabi-listed Burjeel Holdings is set to expand its portfolio with new healthcare facilities in Egypt.
The UAE hospital operator has signed a memorandum of understanding (MoU) with Modon Holding to operate and manage healthcare facilities and services in Ras El Hekma, according to a statement on the Abu Dhabi Securities Exchange (ADX).
Abu Dhabi’s investment and holding company ADQ has recently appointed Modon as the master developer for the Ras El Hekma mega project.
Located around 350 kilometres northwest of Cairo, Ras El Hekma is a major development in Egypt with direct investments totalling $35 billion. The 170-million-square-metre site, which will include residential, commercial and tourist facilities, is envisioned to accommodate up to 2 million residents.
Burjeel’s MoU with Modon includes the development of multi-specialty facilities that will offer specialised services to residents and visitors, as well as innovative healthcare solutions and technologies.
The deal also includes the provision of medical training and capacity-building programmes and development of public health initiatives and wellness programmes, among others.
(Writing by Cleofe Maceda; editing by Seban Scaria)
