Emaar enters healthcare

Real estate developer Emaar MGF Land is planning to enter the healthcare and education sector in the country with a chain of 50 hospitals and, 100 schools and universities over the next seven years.

"In the healthcare sector the company plans to launch a chain of 50 hospitals in the next seven years," Emaar MGF Land Managing Director and Executive Vice Chairman Shravan Gupta said.

In the education sector, the company is aiming at 100 schools and some universities in the country. "We plan to bring in 100 schools and a few universities in India in the next seven years," he said.

Emaar MGF is adopting a holistic approach towards healthcare would be putting up both primary and secondary hospitals across the country, he said. Speciality hospitals would be introduced depending upon the need and requirement of a specific region, he said.

The company, however, declined to give the investment figures. "We are in talks with leading domestic as well as international chains for operating these hospitals," he said.

The Delhi-based company is a joint venture between Dubai's real estate company Emaar Properties PJSC and MGF Developments.

About 70 per cent of these hospitals would be a part of the 'Health and Wellness Zones' in the Emaar MGF townships across the country, he said.

The universities would be both general and specialised in the field of business administration, retail management, arts, hospitality and tourism and nursing, Gupta said.

Most of the schools would form a part of the social infrastructure in the company's integrated townships, he said, adding "the schools will offer ICSE, CBSE and IB options to the students".

Asked about the investment involved, he said Emaar MGF Education would directly own and finance the schools.

"Emaar MGF would be the sponsoring body for the investments and funds. All the schools will be managed by an independent charitable trust," he said. The company plans to roll out mega infrastructure projects like next generation airports and integrated townships. Its first integrated township "" the 3,000 acre Mohali Hills project "" is underway in Punjab.