Sulaiman Al Habib board approves SAR 571M Al-Jubail Hospital project

One of Dr. Sulaiman Al Habib Medical Services Group hospitals

Dr. Sulaiman Al Habib Medical Services Group’s board of directors approved on Aug. 3 the Al-Jubail Hospital project, to be developed through its wholly owned subsidiary Bawabat Al Sharq for Healthcare Co., at an estimated cost of SAR 571 million.

In a statement to Tadawul, the company said the planned facility will be an integrated hospital providing healthcare services across various medical specialties, with a capacity of 145 beds.

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Construction is expected to begin in the fourth quarter of 2025, pending regulatory approvals from the relevant authorities.

The project will be financed through the company’s internal resources and long-term Shariah-compliant loans from local banks, the statement added.

Sulaiman Al Habib expects construction to be completed in the fourth quarter of 2028, followed by testing and commissioning works in the first quarter of 2029.

Al-Jubail Hospital is expected to impact the company’s financial results starting from the second quarter of 2029, subject to regulatory approvals.

As of now, no contracts have been signed with contractors. Agreements for project execution will be made with specialized contractors and suppliers following regulatory clearance, Sulaiman Al Habib noted.

Any material developments related to the project will be disclosed in accordance with applicable regulations. The company also confirmed that no related parties are involved in the deal.

According to Argaam data, Sulaiman Al Habib signed a conditional investment agreement with the Royal Commission for Jubail and Yanbu (RCJY) on May 16, 2023, to allocate a 115,500 square meter plot in the Al-Dafi district of Jubail Industrial City for the hospital’s construction and operation.