KSA’s Atraba Integrated Holding to build $1bn medical city in Egypt
August 08, 2018 – Project to be set up with the support of Egyptian investors
Saudi Arabia’s Atraba Integrated Holding has announced its intent to build a new integrated medical city in Egypt. The project will reportedly require an initial investment of $1bn and will be spread over 500,000sqkm.
Quoting investor Fawaz Mohammed Bashraheel, also the chairperson of Atraba Integrated Holding, Daily News Egypt says Atraba is keen to partner with local entities on the project.
Bashraheel said the project, which is expected to be the biggest medical city in the world, will be set up with the help of a consortium comprising some Egyptian investors.
“We have already begun negotiations with some Egyptian investors and businesspersons, mainly Mohamed Abou El Enein. Our top management has decided Atraba’s initial focus will be in the Gulf region, especially in the areas of Saudi Arabia, Egypt, Bahrain, UAE, Kuwait, Yemen, Sudan, Oman, and Jordan developing industries and driving short-term sales growth. Expansion into the region will commence within the first year of full operation,” said Bashraheel.
He added, “Expansion into the region will commence within the first year of full operation.”