Abu Dhabi – Mubasher: Burjeel Holdings has signed a memorandum of understanding (MoU) with Modon Holding to operate and manage healthcare facilities and services in Ras El Hekma City.
Located on the North Coast of Egypt, Ras El Hekma’s project is set to become a promising economic and investment hub on Egypt's Mediterranean coast, according to a press release.
This partnership will focus on the development of multi-speciality healthcare facilities that will offer a wide range of specialised services to residents and visitors.
Under the joint deal, the two entities will secure advanced healthcare solutions and technologies that will be implemented to improve healthcare delivery in the region.
Additionally, public health initiatives and wellness programmes will be developed to boost community health outcomes and contribute to the overall quality of life in the area.
Shamsheer Vayalil, Non-Executive Chairman of Burjeel Holdings, commented: "At Burjeel Holdings, we are committed to providing world-class healthcare solutions and ensuring that quality medical care is accessible to everyone.”
“Our involvement in the development of Ras El Hekma reflects our ongoing efforts to expand our services and bring advanced healthcare technologies to Egypt’s North Coast, benefiting both residents and visitors," he added.
Last April, Mohamed Maait, Egypt's Finance Minister, indicated that a total of EGP 179 billion was transferred to the state treasury from the Ras El Hekma project.
In the first half (H1) of 2024, Burjeel Holdings recorded lower net profits at AED 168.87 million, compared to AED 224.71 million a year earlier.
Meanwhile, the net profits of Modon Holding hiked to AED 8.73 billion in the January-June 2024 period from AED 214.45 million in H1-23.
