TMG, Alameda team up to build a EGP 5 bn hospital in Madinaty: Local real estate giant Talaat Moustafa Group (TMG) inked a strategic partnership agreement with local healthcare services provider Alameda Healthcare to build a EGP 5 bn (c. USD 100 mn) 200-bed hospital in East Cairo’s Madinaty by 2027, according to a statement.

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The details: Alameda will manage and operate the hospital, offering high-quality medical and healthcare services that aim to attract medical tourism.

REMEMBER- Egypt has been trying to position itself as a medical tourism hub to attract FDI and to open fresh FX revenue streams from patients from Africa, the Middle East, and Europe coming here for treatment on the back of our talented and well-trained medical staff and the competitive price point Egyptian hospitals can offer.

The first of many: The hospital is part of a broader plan between the two sides to develop and manage healthcare offerings within TMG’s urban developments in Egypt and abroad.

ADVISORS- Our friends at EFG Hermes acted as the exclusive financial advisor on the agreement.

The project comes as part of Alameda’s ambition expansion plan, to which the company had allocated some USD 245 mn back in June. The company plans to expand its footprint in Egypt and across the region through setting up new hospitals, acquiring existing ones or expanding its own hospitals.

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