Healing Medical Care, a subsidiary of Meamar Real Estate Development, has completed initial developments for the Sadat International Hospital, its first hospital in Sadat City.
The hospital aims to meet the demands for specialised medical services in Menoufiya Governorate. All designs for the Sadat International Hospital are on the way to being approved by the Ministry of Health and Population.
Healing Medical Care’s land portfolio includes a number of plots of land devoted to medical projects in a number of governorates across Egypt.
Meamar Real Estate launched its first subsidiary company specialised in field of healing medical care, as part of its interest in investing in medical field in Egypt.
The new company is an Egyptian joint stock company which has received a total investment of approximately EGP 200m. Healing Medical Care’s role is providing comprehensive healthcare services through the purchase of lands and the establishment of hospitals on them.
It aims to operate them according to the best international health facilities standards, said the company’s Chairperson Mohamed Sobhy.
Meanwhile, the value of the company’s share is currently being determined before its offering to investors on 1 April 2021[NI1] . A total of 30% of the company’s shares, equivalent to 200,000 shares, will be offered to those wishing to invest.
Sobhy pointed out that the company owns all the lands on which its projects will be developed, on top of which the 3,100 sqm Sadat City project is ready to operate by March 2022.
He revealed that the second project owned by Healing Medical Care covers an area of 8,500 sqm in New Cairo, in addition to 3,000 sqm for a hospital in Fayoum Governorate, and 5,000 sqm for a hospital in Sohag Governorate.