Talaat Moustafa Group Holding (TMG) (TMGH.CA) announced in a statement released on Tuesday that its subsidiary Arab Company for Projects and Urban Development has signed an agreement with a group of international physicians, scientists and management experts for the construction of an integrated medical city in flagship development Madinaty over 40 feddans.
Cairo International Medical City will comprise 240 beds, in addition to medical centers specialized in tumors, organs transplant, as well as rehabilitation and out-patient clinics and research center. The project will also include a health spa, hotel, and a medical shopping mall.
The project will have overall investment reaching EGP 2.7 billion.
The first phase in the project will be inaugurated late in 2015 and all stages will be completed by 2020.
