Golden Pillar Developments intends to launch its first medical project in the real estate market, selecting the Medical City in the New Administrative Capital (NAC) as the starting point for an ambitious investment plan that includes implementing medical projects with targeted investments of up to EGP 10 bn, Invest-Gate reports.

Magdy Saad, Chairman of Golden Pillars Developments, confirmed that Golden Pillar conducted extensive market studies revealing a significant gap between supply and demand for medical projects.

The Medical City in the NAC was chosen as part of the company’s strategy to establish a presence in the best strategic locations and contribute to this medical hub.

He added that the company is set to launch its first medical project, a specialized hospital that will be one of the largest facilities in the Medical City. The founders’ extensive experience in development and construction will be leveraged to create an iconic and integrated medical facility. This project will include a hospital, outpatient clinics, a radiology and analysis laboratory, and a commercial area.

To ensure the investment value of the project and maintain the highest quality standards, a company specializing in managing and operating medical facilities has been selected. This underscores the importance of effective management in preserving both the investment value and the quality of any project.

A group of distinguished doctors from various specialties has been contracted to provide their services and be part of the hospital’s team.

Ayman Mohamed, the company’s CEO, added that there is an ambitious investment plan to implement distinctive projects in the medical sector, with a total investment portfolio of up to EGP 10 bn.

This is particularly relevant given the strong demand in Egypt’s health sector, where there is a gap of up to 133,000 medical beds needed to serve the population. Currently, specialized medical projects in the NAC comprise less than 2% of the total projects offered in recent years.

He noted that the company owns a diverse land portfolio planned for medical projects in the near future, and is preparing to launch its second medical project soon. Additionally, the company plans to implement two hospitality projects in New Cairo and Mohandessin, which will be announced shortly.