Mouwasat board agrees to build SAR 700M hospital in Abha

One of Mouwasat Medical Services Co. hospitals

Mouwasat Medical Services Co.’s board of directors approved, in a meeting today, Oct. 21, the establishment of Mouwasat Hospital in Abha, which is set to feature 180 beds and specialized medical centers.

In a statement to Tadawul, the company said the project will cost SAR 700 million, to be funded through internal resources and long-term, Shariah-compliant credit financing from local banks.

The company added that the related financial impact and any major developments will be disclosed later, noting there are no related parties to the project.