Regional News

Atraba plans $1bn Egypt medical city

September 2018

Saudi-based Atraba Integrated Holding has announced plans to build an integrated medical city project over a sprawling 500,000-sq-km area in Egypt at an initial investment of $1 billion, said a report.

The project financing company is looking to partner with local players on the project, reported the Daily News Egypt, citing Saudi investor Fawaz Mohammed Bashraheel, also the chairperson of Atraba Integrated Holding,

Bashraheel said the project 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,” he revealed.

According to him, the company has decided to initially focus on the Gulf region, Sudan, and Jordan mainly to set up industries and drive short-term sales growth.

“Expansion into the region will commence within the first year of full operation,” he added.  

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