Business | Construction
Mubadala Healthcare plans medical facilities at Aldar's UAE properties
Mubadala Healthcare and Aldar Properties (Aldar) announced they have signed a Memorandum of Understanding (MoU) to explore the development of new healthcare facilities at Aldar's developments in the UAE.
- Staff Report
- Published: 23:54 June 22, 2008
Abu Dhabi: Mubadala Healthcare and Aldar Properties (Aldar) announced they have signed a Memorandum of Understanding (MoU) to explore the development of new healthcare facilities at Aldar's developments in the UAE.
Under the terms of the agreement, the design and development of the facilities themselves will be carried out by Aldar and then transferred to Mubadala Healthcare on a "design, operate and transfer basis".
Mubadala Healthcare will be responsible for the provision of healthcare services by engaging best-in-class partner organisations to operate and manage the facilities.
Ronald Stephen Barrott, CEO of Aldar Properties, said: "The concept is in line with our commitment to provide modern, efficient and sustainable communities for Abu Dhabi and its residents by responding directly to their needs.
"Excellent local healthcare provision is clearly integral to this."
The initial term of the MoU is a year, during which time the Steering Committee will lead discussions focused on the establishment of a joint venture agreement between the two parties.
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