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The board of Mouwasat Medical Services Company has approved the development of a new hospital project in Riyadh for 900 million Saudi riyals ($240 million).
The 280-bed hospital, including specialised medical centres, will come up in Al-Narjis district, the company said in a statement to the Saudi stock exchange on Monday.
The project will be funded through internal resources and long-term Shariah-compliant loans from local banks.
The project’s start and completion date will be announced later, the statement said.
In October 2025, Mouwasat board approved plans to establish a new hospital in Abha at a total cost of SAR 700 million.
(Writing by P Deol; Editing by Anoop Menon)
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