Burjeel Holdings Partners with Modon Holding to Enhance Healthcare in Ras El Hekma City
In an exciting development for healthcare in Egypt, Burjeel Holdings has entered into a strategic memorandum of understanding with Modon Holding to operate and manage healthcare facilities in the burgeoning area of Ras El Hekma City. This picturesque locale, situated along the North Coast of Egypt, is poised to become a vibrant economic and investment hub, attracting both residents and tourists alike.
The collaboration aims to establish multi-specialty healthcare facilities that will provide a comprehensive range of services. Residents and visitors can look forward to advanced healthcare solutions and modern technologies designed to enhance healthcare delivery in the region, making quality medical care more accessible than ever before. This initiative is not just about treating illnesses; it also includes the development of public health initiatives and wellness programs geared toward improving overall community health outcomes and life quality.
Shamsheer Vayalil, Non-Executive Chairman of Burjeel Holdings, expressed optimism regarding this partnership, stating, “At Burjeel Holdings, we are dedicated to providing world-class healthcare solutions. Our involvement in developing Ras El Hekma reflects our ongoing commitment to expanding our services and integrating advanced healthcare technologies into Egypt’s North Coast, benefiting both residents and visitors.” This sentiment underscores the positive trajectory of healthcare advancements in the region.
Ras El Hekma is supported at the governmental level, recently highlighted by Egypt’s Finance Minister, Mohamed Maait, who reported that the project has already contributed a staggering EGP 179 billion to the state treasury. This not only demonstrates the economic potential of the area but also reaffirms the government’s commitment to fostering an environment conducive to investment and development.
While Burjeel Holdings has experienced fluctuations in its financial performance, with net profits recorded at AED 168.87 million in the first half of 2024—a decrease from AED 224.71 million in the previous year—Modon Holding has seen an impressive surge in its profits. The latter reported net profits of AED 8.73 billion, skyrocketing from AED 214.45 million in the same period last year.
This partnership is a testament to the transformative power of collaboration in healthcare. As Ras El Hekma City continues to grow, so too does the potential for enhanced medical services and improved health standards. This is a significant stride towards advancing Egypt’s healthcare infrastructure, one that will undoubtedly benefit many for years to come.
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