Fakeeh Care signs deal to build, lease medical center in Jeddah

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) headquarters

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) signed a framework agreement with Yaser Yousuf Naghi for Investment Co., represented by Sheikh Yaser Yousuf Mohammed Naghi as the Manager, to build and lease a building specialized to be a medical center in Al Zahra District, Jeddah.

The group said in a statement on Tadawul that the 25-year agreement is renewable with the possibility of adding a maximum of 10 years, indicating that the first annual rent is worth SAR 16 million (pre-taxes).

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The medical center will include a building area of 20,000 square meters (sqm). It will provide 60 outpatient clinics in addition to a 20-bed emergency department (ED), outpatient surgery unit, and other centers of excellence (COE). It will fully cover radiology and laboratory needs with the latest advanced technologies.

Under the agreement, the lessor (Yaser Yousuf Naghi for Investment Co.) will construct and deliver a building with three annexes in turnkey condition to the lessee Fakeeh Care, excluding medical equipment and furniture, to be used as a medical center starting from the date of handing over the building.

The agreement framework is expected to impact Fakeeh Care Group’s lease obligations and financial results as of Q4 2025.