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Arkan Palm development signed a memorandum of understanding (MoU) with Al Safaa Medical to establish and manage an integrated hospital in the “205” project in Sheikh Zayed City, which is being carried out by Arkan Palm in partnership with the New Urban Communities Authority.
The memorandum of understanding was signed by Arkan Palm CEO’s Tamer Badr El Din, and Dr Adel Talaat, Chairman and CEO of Al-Safaa Medical.
The final contracts are scheduled to be excluded between the two parties and then proceed with the implementation after obtaining the required licenses for the hospital.
The memorandum of understanding comes within the framework of Arkan Palm plans to cooperate with major entities and brands specialized in various services that shall be provided in the “205” project; the first integrated downtown in West Cairo.
As soon as the licensing procedures are completed, construction work will start, as the two parties are keen to speed up the implementation rates and present a new model for medical buildings in Egypt.
The hospital has a capacity of 250 beds and will include all specialties to provide an integrated medical service for Sheikh Zayed City.
The “205” project obtained the ministerial resolution and the needed licenses, and construction work has begun in the residential area and in several service projects as well. Work is progressing at a fast rate in accordance with the project schedule.
The “205” project is being built on an area of 205 acres in Sheikh Zayed and includes hotel, residential, commercial, administrative, medical, and recreational projects.
The project includes a 150-meter-high tower with a total of 45 floors, in addition to a river with a length of 2 km and a width of 10 meters separating the residential and service part of the project. The construction ratio of the ” 205″ project is only about 30% of the total land area. The project also includes more than 36,000 parking spaces.
U.S-based Gensler, an integrated architecture, design, planning, and consulting firm, has set out the designs and the detailed plan of the “205” project.
Arkan Palm has also contracted with Global real estate advisor Savills to manage the operation of the project, as well as InterContinental “IHG” to manage hotel apartments, and negotiations are underway with many major brands, as the project includes more than one hotel.
