Egypt’s Medicon Property Development plans to start the construction of its 2-billion Egyptian pound ($104 million) integrated medical complex in the New Administrative Capital (NAC) in the first quarter of 2023, the company CEO told Zawya Projects.

"We are planning to deliver Medicon Medical Complex in three phases by mid-2026," Hossam El-Sergany said, adding that the project is being designed by Mohammed Talaat Architects.

El-Sergany said the project consists of 115 clinics including the Swiss Centre for Biological Medicine, 23 specialised medical centres, the largest pharmacy in the NAC, and commercial units including restaurants, cafes and bank outlets.

Meanwhile, the organising committee of the International Cosmetic Congress (ICC) has signed a cooperation agreement with Medicon to allocate clinics within its NAC complex for cosmetic medicine, dentistry, and dermatology clinics.

Under the agreement, the developer will allocate a 52-clinic building within the complex, El-Sergany was quoted as saying in a press statement.

Dr Mohamed Abozeid, ICC’s Founder and President of the Egyptian Association for Women's Health added that the agreement with Medicon aims to capitalise on the project’s location as only integrated medical facility in the residential area of the NAC. ICC’s President Wael Seoudy said the seventh edition of the congress, held on 4 September focused on connecting plastic surgery and dermatology.

(1 US Dollar = 19.21 Egyptian Pounds)

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)