Egypt to establish a $300 million medical and educational project in Shorouk City

Ahram Online , Wednesday 21 Feb 2024

Egypt's Prime Minister Mostafa Madbouly witnessed on Wednesday the signing of a contract between the New Urban Communities Authority and NHMC Medical Services Egypt, a subsidiary of the British company NHMC, to allocate land to establish an integrated urban medical and educational project in Shorouk City, a satellite city in Eastern Cairo, according to the Egyptian Cabinet statement.


Egypt's Prime Minister Mostafa Madbouly witnesses the signing of a contract between the New Urban Communities Authority and NHMC Medical Services Egypt, 21 February 2024. Photo: Egyptian Cabinet

 

Egypt's Minister of Housing, Utilities, and Urban Communities, Assem El-Gazzar, who attended the signing ceremony, said the price of the land will be paid with transfers from abroad in US dollars or any other foreign currency in the official price list of the Central Bank of Egypt.

El-Gazzar added that per the contract, 65 percent of the land (47 acres) would be allocated to establishing urban activities and 35 percent (25 acres) for establishing educational and medical activities.

Amin Ghoneim, Vice President of the New Urban Communities Authority for the Real Estate and Commercial Affairs Sector, signed the contract with Dr Nasser Michel Fouad, Royal Representative of the English County of Cheshire and Chairman of the Board of Directors of the NHMC Group for English and Egyptian Medical Services.

Fouad said the total investment volume of the project amounts to $300 million.

He noted that the project includes establishing the first English colleges of medicine, nursing, and physical therapy in the Middle East and Africa in partnership with the University of Buckingham. The project will also introduce the first educational and private hospital affiliated with the University of Buckingham in the Middle East and Africa.

Furthermore, Fouad said the project also includes establishing a hospital in cooperation with the international company "Johnson & Johnson" and some of the world's leading surgeons in performing delicate surgeries on the face, jaw, and knee, along with establishing a specialised medical area for elderly care with a capacity of 76 rooms.

The project, which creates over 2000 jobs, would include, in addition, a sports academy for people with special needs, an international English school, and an integrated urban area containing villas, residential apartments, hotel apartments, administrative buildings for medical specialities, and malls.

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