The Shetty medical tourism hospital developers have completed their purchase of a site in East End, with the land’s owner Joseph Imparato signing on as a co-developer of the project.
Gene Thompson, the local partner in the project to build what the developers say will eventually be a 2,000-bed hospital, said Thursday that the purchase of a portion of 600 acres of land for the hospital in High Rock had been finalised.
“This is a large step forward for the project,” said Mr. Thompson. “We are beginning our survey work as well as the initial mechanical design work, which will include energy-efficient technology throughout.”
The developers announced two months ago that a land purchase deal had been arranged with Mr. Imparato, who had earlier said he wanted a sea port built on the property.
The Shetty group has initially “acquired a portion of Mr. Imparato’s property with an option to purchase more as needs demand”, according to a statement on the land purchase released Thursday.
It said Mr. Imparato, along with Dr. Shetty’s team, will serve as a “co-developer” of the overall site and that Mr. Imparato’s company, City Services (Cayman) Ltd., would work with Dr. Devi Shetty’s group on site preparation and the long-term development of the project.
Mr. Imparato said his company would not construct the buildings in the medical complex, but would help develop support facilities, such as hotels and residential accommodations.
“City Services is working closely with Dr. Shetty’s Cayman team on a master plan for the project to ensure an integrated, attractive, and well-coordinated healthcare community,” according to the release.
The project, officially called the Narayana Cayman University Medical Centre, will be built in phases over the next 15 years and will include a tertiary care hospital, an assisted living facility, a biotech research centre and a medical educational facility, the developers have said.
Earlier this week, Mr. Thompson told the Caymanian Compass that the developers were currenlty working on preparing a planning application for site, but none had been submitted so far.
The Cayman Islands Government signed an agreement with Indian cardiologist Dr. Shetty in April 2010 to build a “health city”, similar to projects the doctor has in India. That 12-month agreement was extended in April this year.
For more on this story, see Monday’s Caymanian Compass.