The company said in a stock exchange statement that the new hospital would be built on its own land measuring 45,000 square meters (sqm) located in the Riyadh-Al-Arid district.
“It is expected that the excavation and preparation of the project site will commence in the coming days and that the project's implementation will commence in the third quarter of the year 2023 after obtaining the necessary approvals,” the statement said.
The project costs weren’t disclosed.
The hospital would have an estimated built-up area of 87,300 sqm, ad would be designed to add more beds in the future.
The statement said the project would be completed in the fourth quarter of 2025 subject to getting regulatory approvals, adding that it would be financed using the company's resources and long-term facilities.
In December 2022, the company was awarded a contract worth $42 million for the mechanical, electrical, and finishing works of the second phase of Dallah Namar Hospital in Riyadh.
In September 2021, the company obtained financing of 358 million Saudi riyals ($95 million) from the Ministry of Finance with a 10-year repayment period to refinance the construction and equipment of Dallah Namar Hospital.
Source: Zawya
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