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Egyptian master developer MIDAR for Investment and Urban Development (MIDAR) has signed a memorandum of understanding (MOU) with Italy’s Gruppo GKSD to develop an integrated medical, educational and research complex in MADA City, New Cairo.
The project is expected to require investments of between €500 million and €600 million ($577 million - $693 million), according to statement issued by MIDAR.
Gruppo GKSD, affiliated with GKSD Investment Holding and Gruppo San Donato (GSD), will collaborate with MIDAR on planning and development of the facility, the statement said.
GSD is Italy’s largest private healthcare provider and operates a network of over 150 facilities, treating more than 6.5 million patients annually across 50 plus medical specialties.
Integrated complex
The proposed medical city will include hospitals with a total capacity of 500 beds, a Faculty of Medicine designed to accommodate around 5,000 students, and a research and training centre
MIDAR’s CEO Ayman El-Kousey said the project aligns with its master planning strategy for MADA City and Mostakbal City, which are expected to host a combined population of around one million residents.
“We view East Cairo and the New Administrative Capital as high-density hubs of the future, requiring services that meet the highest global standards to enhance quality of life and market value," he said.
El-Kousey added that the partnership with Gruppo GKSD reflects efforts to attract foreign direct investment (FDI) and Egypt’s stability as a preferred destination for long-term regional and international capital.
Gruppo GKSD chairman Kamel Ghribi said the project aims to combine Italian design and engineering expertise with advanced healthcare services to create long-term value in Egypt’s healthcare sector.
Partnership with Egyptian government
Separately, Gruppo GKSD and Gruppo San Donato have signed an agreement with Egypt Ministry of Health to manage, operate and develop the 433-bed Heliopolis Hospital in Cairo.
The facility will include specialised centres for oncology, cardiology, neurosurgery, paediatrics, maternal care and organ transplantation, and is expected to serve around one million people when it becomes operational in 2027. The management contract will run for 15 years.
The Italian company is also involved in the rehabilitation and operation of major hospitals in Iraq under the public-private partnership (PPP) model.
(Writing by Eman Hamed; Editing by Anoop Menon)
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