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The expansion project is being financed partly through bank loans and partly through the international generation of funds by the company
Saudi German Health (SGH) has awarded contracts worth $59.5mn for the construction of an outpatient tower with 14 clinics and a 207-bed inpatient expansion in the Saudi German Hospital Riyadh.
In a filing on the Saudi Exchange, SGH said it had awarded the contracts to International Hospital Construction Company (IHCC). It added that it expects to complete the project within 36 months from the date of award.
The expansion project is being financed partly through bank loans and partly through the international generation of funds by the company, the filing added.
Saudi German Hospital Riyadh has a built-up area of 35,188sqm and contains an existing 300-plus beds, the company said. It is located close to King Fahad Road, close to the main business and residential districts of Riyadh. It is built on a plot of 29,880sqm.
The news follows the recent completion of a multi-specialty tertiary care hospital in Makkah, which was built with a capital expenditure of $104 million, the group said. The Saudi German Hospital Makkah has a capacity of 300-beds and 100 outpatient clinics. It covers a land plot of 57,971sqm and has a total built-up area of 57,579sqm. It is expected to start operations in the third quarter of 2022. |
