Arkan Palm Development signs a memorandum of understanding (MoU) with Al Safaa Medical to establish and manage an integrated hospital in the 205 projects in Sheikh Zayed, in partnership with the New Urban Communities Authority, Invest-Gate reports.
The MoU is signed by Tamer Badr El Din, CEO of Arkan Palm, and Adel Talaat, chairman and CEO of Al Safaa Medical. As soon as the licensing procedures are completed, construction work will start. As the two parties are keen to speed up the implementation rates and present a new model for medical buildings in Egypt.
The hospital has a capacity of 250 beds and will include all specialties to provide an integrated medical service for Sheikh Zayed City.
It is worth noting that the 205 project is built on 205 acres in Sheikh Zayed and features hotel, residential, commercial, administrative, medical, and recreational projects and more than 36,000 parking spaces. The project includes a 150-meter-high tower with a total of 45 floors. Further, it includes a river with a length of 2 km and a width of 10 meters separating the residential and service part of the project. The construction ratio of the 205 project is only about 30% of the total land area.
Additionally, the 205 project obtains the ministerial resolution and the needed licenses, and construction work begins in the residential area and several service projects as well. Hence, work is progressing at a fast rate according to the project schedule.
U.S-based Gensler sets out the designs and the detailed plan of the 205 project. Arkan Palm also contracts with Savills to manage the operation of the project, as well as InterContinental “IHG” to manage hotel apartments. Currently, negotiations are underway with many major brands, as the project possesses more than one hotel.