Dubai Investments PJSC is in negotiations with United Arab Emirates-based private sector healthcare providers NMC to develop a new hospital in Mirdif, the company’s chief executive said.
The company said in a statement in May it was looking at diversifying into new sectors, such as education and healthcare, in a bid to expand its asset base.
“We are now in negotiations with NMC to do a project within Mirdif Hills,” Khalid Bin Kalban, CEO managing director of Dubai Investments, told Thomson Reuters Projects in a phone interview on Monday.
“A letter of intent has been signed. Now we need to get the details of the agreement.”
The project will consist of a 200-bed hospital, along with staff accommodation, Kalban said, adding that NMC has already appointed a consultant to design the facility.
In June, Dubai Investments Real Estate Company (DIRC), a subsidiary of Dubai Investments, announced the completion of excavation and shoring works for the first phase of its three billion UAE dirham mixed-use Mirdif Hills master development.
In May, the firm announced a net profit of 289 million UAE dirhams in the first quarter of 2017, compared to 298million UAE dirhams for the same period last year.Kalban said in a statement that the company’s outlook for the remainder of 2017 looked positive with various real estate developments in the pipeline.
Thomson Reuters Project reported on Tuesday the company plans to tender construction for a one billion UAE dirham skyscraper in Q4 2017.
It also told Reuters it is in initial talks to buy Union Properties' stake in Emirates District Cooling LLC (Emicool), in a move to take full control of the district cooling service provider.
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