INVESTMENT WATCH- UAE’s Thumbay Group wants to invest EGP 5 bn in Gulf Medical University branch in Egypt: The UAE’s Thumbay Group is looking to invest as much as AED 1 bn (EGP 5 bn) to build a local branch of its Gulf Medical University as a first step toward building a full-fledged medical city, founder Thumbay Moideen told Investment Minister Sahar Nasr in a meeting yesterday, according to a ministry statement. No further details were provided. Egypt passed the Universal Healthcare Act earlier this year to help drum up interest in the nation’s healthcare sector. Among those interested are Saudi’s Atraba, with plans to build a USD 1 bn medical city, the Saudi German Hospital, with a USD 500 mn project in Alexandria, and Spine Medical’s planned investments in the new capital.

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