Saudi’s Elaj Group planning to build EGP 500 mn oncology hospital in Egypt

INVESTMENT WATCH- Saudi Arabia’s Elaj Group is planning to build a EGP 500 mn oncology hospital in Cairo, sources close to the matter say, Al Mal reports. They added that Elaj plans to complete construction by year’s end and begin operations in 2019. The Saudi group will finance the project themselves, which will be constructed on a 1,300 sqm plot in Mohandiseen. Elaj Group went on an acquisition spree at the end of last year that saw it acquire Alexandria International Hospital and Ibn Sina Specialized Hospital, as well as 74% of clinical laboratory group Cairo Labs and a 15% stake in the International Eye Hospital.