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| 27 February, 2017

Ajman Bank to finance construction of Saudi German Hospital Ajman

Image used for illustrative purpose.

Image used for illustrative purpose.

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Formal opening of the hospital is expected in 2018.

AJMAN, 27th February, 2017 (WAM) -- Ajman Bank has signed a financing agreement with Saudi German Hospitals Group for the construction of Saudi German Hospital Ajman, SGH-Ajman, a 50- bed facility in the Emirate of Ajman.

The total cost of the project is AED327.3 million, and the completion of all phases of the project and formal opening of the hospital is expected in 2018, it was announced in a press conference held by both parties.

The signing of the agreement was overseen by Mohamed Amiri, Chief Executive Officer of Ajman Bank, and Sobhi Batterjee, CEO and Chairman of the Saudi German Hospitals Group.

Mr. Amiri said that the agreement is a true reflection of Ajman bank’s focus and keenness to support the medical sector by financing specific development projects that promote an integrated health care system in the emirate.

Mr. Batterjee thanked Ajman Bank and its vision of adopting major health care projects, saying that apart from the local demand, there are enormous opportunities for medical tourism in the Emirate of Ajman and the region.

Akram Khan, Executive Vice President and Group Head of Wholesale Banking at Ajman Bank, said that the agreement includes providing a housing fund for hospital workers and a range of items within the framework of the agreement.

© Copyright Emirates News Agency (WAM) 2017.