FINANCIAL NEWS

SQH to build $112m medical city in Damascus

11 May 2010

(MENAFN) Syrian-Qatari Holding (SQH), whose declared capital is $5 billion, said that it will develop Damascus? first Medical City, which integrates a 200-bed hospital and several specialty medical centers and offices, The Peninsula reported.

The medical city, which is expected to be completed within three-and- a-half years at an estimated cost of $112 million, is being developed in association with a group of US-based Syrian physicians acting within the framework of the Syrian-American Medical Centre (SAMC).

The project, which is close to the Mazeh highway, is built on a land area of 10,000 square meters and the plans of the medical complex call for a total built-up area of 64,000 square meters, of which 26,000 square meters will be allocated to the 200-bed general hospital facility.

The medical city project is managed by Syrian-Qatari Healthcare, a subsidiary of joint sector SQH, which is equally owned by both the governments.

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