Mouwasat eyes Riyadh horizontal expansion, to kick off ops at Yanbu Hospital in Q1

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

Mouwasat Medical Services Co. has ambitious plans for horizontal expansion within the Kingdom, with Riyadh at the forefront. 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, said Managing Director Khaled Suleiman Al-Sulaim.

In an interview with Asharq TV, Al-Sulaim explained that the company currently operates one hospital in northeast Riyadh with a capacity of 200 beds, highlighting that work is underway to expand it by adding 100 beds. He noted that the project is still under construction and that the new hospital is located in northern Riyadh.

The company’s closest project to completion is the Yanbu Hospital, with a capacity of 200 beds. 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, according to the official.

Regarding the preliminary timeline for the new hospital project in Riyadh, Al-Sulaim said the project will go through several stages, including site acquisition and property ownership transfer, followed by the design phase, which will take several months, with the project’s detailed timeline to be announced at a later stage.

As for project financing, he explained that the company’s financing policy relies on a mix of self-financing and bank loans, with around 80% funded internally and 20% financed through local banks.

According to data available with Argaam, Mouwasat’s board of directors approved yesterday 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.