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Sulaiman Al Habib’s unit inks SAR 71m deal for structural works of new hospital

Sulaiman Al Habib’s unit inks SAR 71m deal for structural works of new hospital
The company is currently working to receive the construction licence from Riyadh Municipality.
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Riyadh – Mubasher: The board of Dr. Sulaiman Al Habib Medical Group (HMG) approved awarding and signing the contract of structural works for Maternity and Pediatric Hospital by its subsidiary, Gharb Al-Takhassusi Hospital for Healthcare, with MASAH Construction Company, a related party.

The one-year contract is valued at SAR 71.04 million, according to a bourse statement on Monday.

Board chairman, Dr. Sulaiman Abdulaziz Al Habib, and board member, Hesham Sulaiman Al Habib, are both related parties in the contract.

The group added that it received initial approval from the Ministry of Health to open a health facility and is currently working to receive the construction licence from Riyadh Municipality.

In August 2020, the group’s board approved the project to set up a new maternity and pediatric hospital in Riyadh as a branch of Gharb Al-Takhassusi Hospital.

The new hospital was to be built on land owned by Sulaiman Al Habib spanning 7,170 square metres at an estimated cost of SAR 472 million.