By Febronia Hanna
The Saudi company Atraba Integrated Holdings has announced its intention to build the largest medical city in the world that will be based in Egypt. The city will be spread over 500,000 square meters.
Atraba was very keen on having local partners in its megaproject. Fawaz Mohammed Bashraheel, the chairman of the Saudi company, said that the huge city will be built with the help and association of influential businessmen in Egypt. The project shall have an initial investment budget of $1 billion.
“We have already begun negotiations with some Egyptian investors and businessmen, mainly Mohamed Abou El Enein. Our top management has decided Atraba’s initial focus will be in the Gulf region, especially in the areas of Saudi Arabia, Egypt, Bahrain, UAE, Kuwait, Yemen, Sudan, Oman, and Jordan developing industries and driving short-term sales growth. Expansion into the region will commence within the first year of full operation,” said Bashraheel.