Aldar, Mubadala partner in healthcare drive

by Claire Ferris-Lay Sunday, 22 June 2008

Abu Dhabi developer Aldar Properties and state investment vehicle Mubadala Development Co. have agreed to work together on healthcare projects in the UAE.

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Mubadala Healthcare and Aldar on Sunday signed a memorandum of understanding (MoU) to look at developing healthcare facilities within Aldar developments, state news agency WAM reported.
Under the agreement, the design and development of the facilities would be carried out by Aldar and then transferred to Mubadala Healthcare on a design, operate and transfer basis, WAM said.

“This collaboration is an important step towards the creation of healthcare facilities where they are needed most,” Mark Erhart, executive director of Mubadala Healthcare, was quoted as saying.

The initial agreement is for one year, during which time a steering committee will set up to lead discussions focused on the establishment of a joint venture agreement between the two companies, the news agency reported.



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