Al Marasem inks JV MoU with consortium of doctors to establish medical complex in New Cairo

Saudi Binladin Group subsidiary Al Marasem International for Development signed an MoU on Saturday with a consortium of doctors to establish a joint venture to oversee the completion of a new medical complex in New Cairo, Al Borsa reports. Al Marasem will hold a controlling stake of 50% in the new company, with the other 50% distributed evenly between the five other partners, who are expected to invest around EGP 540-580 mn in the venture, sources said. Liquidity shortages had reportedly stalled the project.