By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt’s IDA gears up to provide its services for investors online
    Egypt’s IDA gears up to provide its services for investors online 
    March 29, 2023
    Egypt. Germany discuss promotion of cooperation in communications, digital transformation
    Egypt, Germany discuss promotion of cooperation in communications, digital transformation
    March 29, 2023
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    March 29, 2023
    Volatile trading on EGX amid anticipation of interest rate movement
    Volatile trading on EGX amid anticipation of interest rate movement
    March 29, 2023
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    March 29, 2023
  • Politics
    PoliticsShow More
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    March 29, 2023
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    March 29, 2023
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    March 29, 2023
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    March 29, 2023
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    March 29, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Redcon set to establish 100 clinics, hospitals in 3 years
Share
Notification
Latest News
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Business
Volatile trading on EGX amid anticipation of interest rate movement
Volatile trading on EGX amid anticipation of interest rate movement
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Real Estate > Redcon set to establish 100 clinics, hospitals in 3 years
InterviewsReal Estate

Redcon set to establish 100 clinics, hospitals in 3 years

Daily News Egypt
Last updated: 2017/11/11 at 11:24 PM
By Daily News Egypt 6 Min Read
Share
SHARE

Hazem Ashry, co-founder and chairperson at Redcon Medical Parks, said that his company will establish 100 clinics in its Alburouj Medical District project, which was announced last week.

Redcon Medical Parks is a subsidiary of Redcon Real Estate Development. The company is specialised in providing services of medical facilities in Egypt.

What are the expected returns from the first phase of the project?

We expect to achieve revenues of up to EGP 300m from selling the units in the new clinics complex project.

What are the project investments?

Redcon Medical Parks launched Alburouj Medical District project last week with investments of EGP 2bn, as part of the Alborouj project that is being implemented by Capital Group Properties for Real Estate Development.

What is the number of hospital beds in the project?

Alburouj Medical District project includes a big building for clinics and a hospital of 150 beds, next to a medical centre for wellness and fitness, as well as a restaurant and cafe court.

When will the first phase be implemented?

The company will start implementation of the first phase of the complex in March 2018, in preparation for the opening of the booking phase shortly.

What is the payment and booking system?

The company will offer the clinics to the doctors with a good system of payment. This will include paying a EGP 25,000 down payment and 10% of the total value at delivery, then paying quarterly installments for a period of five years. Units will be delivered within three years.

What is the total project area?

Alburouj Medical District is built on 33,000 sqm. The company will use 11,000 sqm in the first phase that includes the clinics complex, which will be ready in three years.

Who are the targets of the project?

The company aims at attracting people with PhDs and university professors to invest in the complex, as well as expatriate doctors from the Gulf and Europe, and then fresh graduate doctors.

Are there any negotiations with banks to fund clinics?

We are negotiating with some banks, in order to fund doctors who do not wish to pay for clinics over five years, so they can extend the installment period over 20 years.

Why does the company launch such a project?

The company has prepared a study on the area where the medical complex will be located. It was found to be with a high population of 120,000 residents by 2020, next to the employees of the companies close by, making it a good investment.

Alburouj project is on 1,212 feddans (5m sqm) in the area between Suez and Ismailia Desert roads. It is an integrated project with 28,000 residential units and a number of commercial, entertainment, and administrative units. It will be implemented over four phases in 10 years.

Selection of Alburouj project to launch the company’s first medical project was due to the proximity to a number of residential and high population density areas. This includes 12,000 residents and 8,000 employees in the planned Smart Village Project, along with companies and schools.

There is also a trend of displacement to the new population areas such as Badr, Obour, Sheikh Zayed, Nozha, and New Nozha. The project aims to provide medical facilities to residents of these cities.

What is the size of the company’s financial portfolio?

The size of the company’s new financial portfolio amounts to EGP 50m. It will be increased from self resources when the project begins.

The company also excludes borrowing from banks for the current period because of the high interest rates on lending, so it will rely on its own project financing.

What services does the project include?

The company will establish a medical clinic building in the first phase of the project, and will be joined by the hospital and the medical centre before 2023.

The company aims to establish a hospital with a capacity of 150 beds to treat all medical conditions.

The service in Egypt lacks good management. The acquisitions carried out within the medical sector are indicative of the attractiveness of the Egyptian market, which needs many medical services.

What do you think of recent acquisitions in the sector?

Despite the positive indicator of acquisitions, the market needs new medical entities and the restructuring of some of the old entities to provide medical service at a high level to be used to attract Arab and African expatriates to receive medical service.

Is the company considering providing medical tourism services?

The company is considering the possibility of providing therapeutic tourism services within the new medical complex, and it targets Africans in the first stage.

In addition, the company has established a company specialised in the field of medical buildings for the development of facilities, and will focus initially on clinics, and then the transformation into larger entities in later stages.

You Might Also Like

Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun

TMG declares EGP 400m in dividends for 2022

Strong presence of Egypt’s real estate developers in MIPIM in Cannes

Raaed Developments launches ROOTS compound in New Sohag with EGP 1.8bn investment

Tatweer Misr signs MoU with Saudi Arabia to facilitate investment opportunities in Kingdom

TAGGED: clinics, co-founder and chairperson at Redcon Medical Parks, Hazem Ashry, hospitals, Redcon Medical Parks
Share this Article
Facebook Twitter Email Print
Previous Article How to get microfinance from Banque Misr
Next Article The fall of the giants
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?