Saudi's Sulaiman Al Habib Group signs $19mln deal for hospital construction

Contract to cover structural works in maternity, paediatric hospital

  
Image used for illustrative purpose. Labourers work at the construction site of a building in Riyadh, Saudi Arabia, October 18, 2017.

Image used for illustrative purpose. Labourers work at the construction site of a building in Riyadh, Saudi Arabia, October 18, 2017.

REUTERS/Faisal Al Nasser

The board of directors of Saudi Arabia’s Sulaiman Al Habib Medical Services Group (HMG) has approved a contract worth 71.03 million riyals ($19 million) for its new healthcare facility project in Riyadh.

The deal is between the firm’s subsidiary, Gharb Al-Takhassusi Hospital, with Masah Construction Co.

The one-year contract covers the structural works in the maternity and paediatric hospital, the group said in a statement on the Saudi Stock Exchange (Tadawul).

In August last year, the largest healthcare services provider in the region announced the construction of the new facility as a branch of Gharb Al-Takhassusi Hospital.

The company said on Tuesday that it has already obtained the initial approval from the Ministry of Health to open the facility, and that it is currently working to receive the construction license from Riyadh Municipality.

(Writing by Brinda Darasha; editing by Cleofe Maceda)

brinda.darasha@refinitiv.com

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