TTT NEWWS NETWORK
KOLKATA, 14 DECEMBER 2024:
Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), Walid Al-Rasheed, Chairman and Managing Director of Misr Investment Company for Development, and Mohamed Karrar, Chairman of Maxim Investment Group (MIG), signed a contract for the establishment of the first medical and health resort in Egypt, in the investment area of Al-Saf Center in Giza Governorate.
The contract states that MIG would create, oversee, and run GAFI’s investment zone in the Al-Saf area and transform it into “Naya Spa,” Egypt’s first medical and wellness resort that combines lodging and medical services in one location. As part of the State’s commitment to increasing investment in the health sector, it will be the first facility of its kind in Egypt to promote medical tourism.
Heiba stated that GAFI has created the 40-acre investment zone in Al-Wadi sub-district, Al-Saf, at an expense of EGP 1.5 billion, with the goal of creating over 4,500 employment opportunities once it is operational. He also mentioned that the project intends to utilize the area to become a hub for commercial, craft, tourism, therapeutic, and tourism activities, all of which have a significant positive impact on the development of the project’s establishment area and the Egyptian economy overall.
The CEO of GAFI went on to say that the project is an effective example of collaboration between the public and private sectors in putting the State Ownership Document into practice, which places a strong emphasis on empowering the Egyptian private sector and raising its contribution to the country’s GDP.
The Giza Governorate is known for its handicrafts and heritage industries, which have been passed down through the generations. These industries are particularly strong in the villages of Kerdasa and Harrania and are aided by an abundance of skilled labor. Mr. Walid Al-Rasheed, Chairman and Managing Director of Misr Investment Company for Development, one of GAFI’s subsidiaries, emphasized that the craft activities will play a significant role in the investment zone’s operations.
As the first of its kind in Egypt, the project will house senior doctors from around the globe and cover a wide range of medical specialties. This will make it a popular destination for medical tourists, bringing in foreign exchange profits while also creating jobs for hundreds of medical professionals, said MIG Chairman.
The resort will have multiple medical clinics for thorough examinations, labs for analysis, cosmetic clinics, lodging hotels, restaurants, and numerous areas for hosting workshops and other activities.
Dr. Karrar said that the partnership between MIG and GAFI is an implementation of Maxim’s strategy and vision for investment towards diversity and continuous development in the projects it offers in all investment sectors. In line with the Group’s investment vision, which aims to build and develop a diversified and sustainable strategic project portfolio in the hospitality, health care, real estate, and commercial development sectors—all while serving the community and offering a range of services to clients in a way that translates the Group’s environmental, economic, and social responsibilities—he clarified that MIG’s current focus is on investigating various investment opportunities in new areas.