Oman to build $1bn healthcare city
MUSCAT: Oman's Majan Development Company (MDC) is planning to develop a healthcare city near Muscat with an estimated investment of 300-400 million rials ($774m to $1.03 billion), a senior official of the Kuwait-based Gulf Investment House (GIH) told reporters.
"An international consultancy agency has conducted market research for the project in the GCC region. The result was positive... A feasibility study for the project is going on now," said GIH senior manager for direct investment Bashar Al Tuwaijri.
GIH is initiating the project with a 20 per cent stake in MDC.
Al Tuwaijri said the healthcare city would be constructed on a build, operate and transfer basis.
"Construction is expected to start by next year," he said.
Oman's Ministry of Tourism has agreed to allot land of 1m sq/m near Blue City, which is 100km away from Muscat.
Al Tuwaijri said the healthcare city would include medical colleges, hospitals, conference halls, hotels and shopping malls.
"The project will be funded by way of equity and term loan from banks," he said.
مدينة صحية قرب مسقط كلفتها بليون دولار بمساهمة 20% من بيت الاستثمار الخليجي
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