Sharjah Investment and Development Authority (Shurooq) has signed an agreement to establish the first South Korean hospital in Sharjah.

The memorandum of understanding was signed with South Korean companies REI Holding Group and Haewon Medical Foundation Sejong General Hospital in Seoul.

Shurooq says the new hospital will offer South Korean technologies and solutions specialising in open-heart surgery, cardiac care and medical expertise in other fields.

Shurooq has a wide range of joint venture agreements with partners for projects in Sharjah. Earlier this year it formed a joint venture with Dubai developer Nakheel to develop a AED75m ($20m) community retail centre in Sharjah.

With Abu Dhabi’s Eagle Hills it has officially launched three projects in the emirate worth a total of AED2.7bn.

Shurooq has also formed a strategic partnership with Kuwaiti real estate developer Mabanee to develop a shopping mall on Mohammed bin Zayed Road in the Mughaider area.