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| 12 August, 2018

Saudi German Hospital finishes 38% of Dammam hospital

The project is expected to be completed on 6 June 2019

Asian Labourers work at the construction site of a building in Riyadh, Saudi Arabia August 4, 2016.

Asian Labourers work at the construction site of a building in Riyadh, Saudi Arabia August 4, 2016.

REUTERS/Faisal Al Nasser

Riyadh – Mubasher: Saudi Arabia-based Middle East Healthcare Company (Saudi German Hospital) has announced completing about 38% of establishing its new hospital in Dammam.

The project’s actual work started on 7 December 2016, while it is expected to be completed on 6 June 2019, according to a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

In April, Saudi German Hospital announced finialising around 30% of the project, giving no further details on its cost.

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The Saudi healthcare provider last reported a 44.68% year-on-year profit decrease for the second quarter of 2018, recording SAR 34.27 million, down from SAR 61.95 million.

The stock fell 10% to close Thursday’s trading session at SAR 48.60.

Source: Mubasher

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