PM reviews plans for two $5bn medical cities in New Capital, New Alamein

Prime Minister Mostafa Madbouly convened a meeting to review plans for constructing two $5 billion medical cities in New Capital and New Alamein City as the government pursues large-scale healthcare projects backed by foreign investment. The gathering included Health and Population Minister Khaled Abdel Ghaffar, Housing, Utilities, and Urban Communities Minister Randa al-Minshawy, senior government officials, and representatives of an international consortium of private companies.

Madbouly emphasized the need to expedite procedures to commence project implementation and noted that the initiatives have been developed in collaboration with a leading international healthcare consortium. These projects, fully financed through foreign direct investment (FDI), will encompass specialized hospitals, medical schools, research centers, training institutes, administrative facilities, and advanced healthcare infrastructure adhering to international standards.

The objective is to broaden specialized healthcare services, bolster medical education and training, and position Egypt as a regional healthcare, medical research, and medical tourism hub. The Egyptian government will receive a substantial share of hospital beds as stipulated in the agreement, thereby enhancing access to advanced medical services under the Universal Health Insurance System.

Representatives from the international consortium disclosed that the total investment in the two projects surpasses $5 billion, with approximately $2.8 billion earmarked for New Capital and $2.5 billion for New Alamein. These projects are projected to rely primarily on Egyptian medical professionals, aimed at reinforcing Egypt's medical tourism sector.

The consortium indicated that the New Capital medical city could potentially attract over three million medical tourists within its initial three years of operation. Moreover, they are assessing multiple locations in New Alamein before finalizing the site selection, promising hotels and integrated facilities tailored to support medical tourism.

Following the meeting, Madbouly ordered the establishment of a joint working group comprising Egyptian authorities and international consortium representatives to finalize technical, financial, and legal arrangements prior to the commencement of construction.