Orascom Construction Selected to Build the Magdi Yacoub Global Heart Centre in Egypt


Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has been selected by the Magdi Yacoub Heart Foundation to build the Magdi Yacoub Global Heart Centre in 6th of October City, Egypt.

The centre will have a land size of 37 acres, a built-up area of 27 acres and include 300 beds, making it the largest healthcare facility in the region for cardiac care, treatment and research. Upon completion, the Magdi Yacoub Global Heart Centre will have a patient capacity of over 120,000 annually.

This landmark project elevates the health and wellbeing landscape in Egypt, and proudly adds to Orascom Construction’s vast portfolio of healthcare projects, entailing the building and refurbishing of several hospitals and medical centers throughout Egypt, and demonstrates the Group’s leadership in specialized sectors and projects such as healthcare, tunnels, underground metros and high-speed rail.

Eng. Osama Bishai, CEO of Orascom Construction, commented, “We are proud to be selected to partner with the Magdi Yacoub Heart Foundation to build a state-of-the-art complex that will provide world-class healthcare and turn Egypt into a leading heart research and training hub. Orascom Construction prides itself on executing projects that result in a direct, tangible difference on its communities, and this project epitomizes this ethos. It is an honor to play an integral role in bringing Professor Sir Magdi Yacoub’s vision to life.”

Professor Sir Magdi Yacoub commented, “The decision to award the contract of Magdi Yacoub Global Heart Centre- Cairo to OC represents a milestone in the long road of guaranteeing excellence, at every level. At long last, the dream of creating an expanded world class cardiovascular centre, embodying the spirit of the Aswan Heart Centre, dedicated to serve humanity, Science and Medicine, without discrimination, is becoming a reality. This is the direct result of the efforts of a large team of people who strongly believe in the cause, with the enthusiastic support of the Egyptian, regional and global international community. I am honoured and humbled to be part of this endeavour.”

Dr. Magdy Ishak, MYF Vice Chairman, said, “The board is delighted with our partnership with Orascom Construction to complete this unique centre, which was designed by Lord Foster and Dar El Handassah. The Board has undertook this great investment in future health of Egyptian people specially our children. The Magdi Yacoub Global Heart Centre- Cairo will be a landmark for quality treatment of heart conditions free at the point of delivery, a centre for training & apprenticeship for future generation from Egypt and beyond, and a beacon to the world for research & innovation.”

Orascom Construction Selected to Build the Magdi Yacoub Global Heart Centre in Egypt