The countdown for the establishment of Hadassah Cyprus has begun as the transfer of a large area of land in Lakatamia, which belonged to Bank of Cyprus Remu has been officially completed, for a total amount of €13.5 million, according to exclusive information from Insider.
The new owners have also spent another €10 million on the purchase of land that belonged to the Gordian Holdings portfolio and will proceed with a mammoth development in the area as land totaling 200,000 sq. m. has been transferred to them.
Hadassah Cyprus will include the Hadassah Health Park and a University Medical School.
MMC’s majority shareholder and owner of the properties is Elhadi Holdings Ltd.
The hospital will operate within the Cyprus General Health System GESY and is considered to be the largest private hospital in Cyprus, as it will offer comprehensive hospital care services.
Regarding expenditure, both for the hospital in Nicosia and the diagnostic center in Limassol, the total expenditure will amount to around €90 million, of which €80 million for the hospital in Nicosia and around €8 to 9 million for the diagnostic center in Limassol.
In relation to the medical school to be established in the region, an agreement was reached with one of the best universities in Israel, the Hebrew University, to establish a medical school in Cyprus.
Finally, seven residential buildings with apartments for sale, offices, shops, and a specialized condo-hotel-type unit will also be built in the area.