Egypt’s Catalyst Real Estate Consultancy Company says it has started carrying out its medical flagship Ozone in New Cairo, with total investments worth around 1.7 billion Egyptian pounds ($96.2 million).
These investments include 700 million pounds for the project’s implementation and the rest of the money is for preparing the clinics, the company’s chairman Osama Shalaby told Amwal Al Ghad on Tuesday.
Established in 2000 by presidential decree No. 191, New Cairo city is located on the southeastern edge of Cairo governorate, 25km (15.5 miles) from Maadi.
“We (the company) launched the project early last month,” Shalaby further said, adding that it will be established over 18,000 square metres and a lease space of about 60,000 square metres.
“The medical flagship is being executed within three years,” the official noted.
Catalyst is still negotiating with one of the leasing companies to provide Ozone’s equipment, Shalaby stated, referring that the final agreement is set to be signed within the first quarter of this year.
“The company’s investments encompass seven commercial projects in New Heliopolis and El Shorouk cities,” he concluded.