Red Sea unit signs SAR 220M deal with Al Arab Hospital

05/01/2026 Argaam
Logo ofRed Sea International Co.

Logo of Red Sea International Co.

Red Sea International Co.’s subsidiary, Fundamental Installation for Electric Work Co. Ltd. (First Fix), signed a contract with Al Arab Hospital Company Ltd. to execute works for the construction of a hospital project in South Obhur, Jeddah, valued at SAR 220 million (VAT exclusive).

 

In a statement to Tadawul today, Jan. 5, Red Sea said the 420-calendar day contract includes mechanical, electrical and plumbing (MEP) works, screed works, and the layout of internal spaces, in addition to certain civil works.

 

The planned hospital will comprise 19 floors, plus two basement levels.

 

The company expects the financial impact of the project to be reflected starting from the first quarter of 2026, noting that Red Sea and MSB Holding Co. are related parties.

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