Funding provided for Turkish hospital project

WCN Editorial Team 10 Nov 2016 EUROPE BUILDINGS

The European Bank for Reconstruction and Development (EBRD), Export Development Canada (EDC) and the Overseas Private Investment Corporation (OPIC) have agreed to provide €376M in financing for the development of a healthcare complex in Turkey.

The new complex, to be located in the north-western Turkish province of Kocaeli, will span across several buildings and have a total of 1,180 beds.

Private developer Kocaeli Hastane Yatırım ve Sağlık Hizmetleri, a joint venture between GE and Turkish corporations Gama Holding and Türkerler İnşaat, will design, construct and manage the Kocaeli hospital.

Additionally, the JV will serve as facilities manager, providing building maintenance and non-clinical services.

The healthcare buildings will be leased to Turkey’s Ministry of Health under a 28-year concession. The development is anticipated to commence operations in 2019.

* Data provided by Timetric's Construction Intelligence Center.

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