Mouwasat eyes horizontal expansion in Riyadh, Yanbu Hospital to start ops in Q1: MD

Khaled Suleiman Al-Sulaim, Managing Director of Mouwasat Medical Services Co.

Mouwasat Medical Services Co. has ambitious plans for horizontal expansion across the Kingdom, primarily in Riyadh, said Managing Director (MD) Khaled Suleiman Al-Sulaim.

The company’s presence in the capital for around 12 years underpins its strategy to continue expanding, given the city’s growing need for comprehensive healthcare services, he told Asharq TV.

Al-Sulaim said the company currently operates a 200-bed hospital in northeast Riyadh, with work underway to add another 100 beds.

He revealed that the hospital in northern Riyadh is still under construction.

The Yanbu Hospital, which has a capacity of 200 beds, will be the first to be completed, the managing director said. The start of its operations will be announced during the current quarter.

The project is currently in the final stages of completion and calibration, in addition to obtaining the required licenses from the Ministry of Health, he said.

Speaking on the initial timeframe for the new hospital in Riyadh, Al-Sulaim said that the project has entered the design phase, which will take a few months.

The project schedule will be announced later, he added.

As for the project’s financing, he explained that the company’s policy is to rely on a combination of self-financing and bank loans, with approximately 20% financed internally and 80% through local banks.

According to data available with Argaam, Mouwasat’s board of directors approved, on Jan. 12, the establishment of a new hospital in Riyadh’s Al-Narjis district.

The new hospital will encompass 280 beds and specialized medical centers at a total cost of SAR 900 million.