Dubai – Mubasher: Ajman Bank has inked a financing agreement with Saudi German Hospitals Group for the construction of the Saudi German Hospital – Ajman (SGH-Ajman) project.

The 150-bed facility is valued at AED 327.3 million, according to a statement.

The completion of the whole project and its formal opening are expected to take place in 2018.

Commenting on the deal, Ajman Bank's CEO Mohamed Amiri stated 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 integrated health care system in the Emirate of Ajman."

“We are confident that the Saudi German Hospital – Ajman will offer access to quality health care for the people of Ajman by providing finest medical and therapeutic services through a comprehensive and distinct health systems that contributes to the development of an integrated system to deliver high quality medical and health care services in the emirate of Ajman,” he added.

The deal was signed with the attendance of Ajman Bank's CEO Mohamed Amiri and Engineer Sobhi Batterjee, CEO and chairman of the Saudi German Hospitals Group.