Middle Eastern healthcare company, Saudi German Hospitals is investing in Egypt's healthcare.
Saudi German Hospitals - a Middle Eastern healthcare company - is set to build a medical city in Alexandria scheduled to be completed by 2019, reported Egypt Independent on Monday.
With work on the complex's foundation having already commenced in October 2016, the $500 million medical city - dubbed Batterjee Medical City in Alexandria - will be located in Burj Al Arab, in the Alex West residential compounds estate.
Executive director of the Saudi German Hospitals in the Middle East, Mohammed Hablas said that they will be continuing the scheduled work on the medical city - which will be developed in four stages and will host eight hospitals- regardless of the increasing prices of materials.
Housing 220 medical centers and having spent EGP 700 million on a science and technology college, the hospital estimates that it will begin earning revenue by the year 2020.
With 300 beds coming at an estimated cost EGP 1.5 billion and accommodation costs of EGP 110 million set to be completed in the first phase, the second phase will come at an estimated cost of EGP 6 - 8 million for seven of the specialized hospitals. EGP 20 million per hospital will be spent on the housing of the workers. The third phase sees the 220 medical centers completed at an estimated cost of EGP 200 million.
Chief executive of General Authority for Investment and Free Zones (GAFI), Mohamed Hany Khodeir believes that the Alex-based project - which comes with saudi investments of up to EGP 8 billion - will place Egypt on the global economic map.
The ME healthcare company also plans on opening two new hospitals in Cairo at an investment cost of EGP 750 million, with one in Sixth of October and the other in New Cairo. Asyut and the New Administrative city are also on the list of areas the company intends to build hospitals in.
Main image taken from Egypt Independent.