Daily Newsletter

04 September 2024

Daily Newsletter

04 September 2024

Fakeeh Care reaches new construction milestone for MASAR Makkah hospital  

The company has awarded another construction related contract for Obhur Jeddah Hospital project.

Soumya Sharma September 03 2024

Fakeeh Care has achieved a significant milestone in the development of its new hospital, DSFH MASAR Makkah Hospital, situated opposite the Haramain train station within the MASAR Makkah Project.  

In a stock exchange filing, Fakeeh Care confirmed that Advanced Horizons Contracting (AHC) Company, a subsidiary of Dr Soliman Abdel Kader Fakeeh Hospital (DSFH), has signed a contract with ASAS AL-AMAR Contracting Company for the initial construction works at the new hospital. 

The contract, which is valued at approximately SR18.7m ($4.98m), was signed on 2 September and covers shoring, dewatering, and excavation related work.  

The work is expected to last nine months.  

This phase of construction will influence the group's liquidity and is anticipated to impact financial results when the hospital begins operations in the second half of 2027. 

DSFH and its subsidiaries previously announced plans to establish the DSFH MASAR Makkah Hospital.  

The facility is expected to house at least 200 beds within a 136,000m² built-up area on a roughly 9,700m² leased land plot.  

The hospital's offerings will include a total of 70 clinics, seven operating theatres, and 36 intensive care units. 

In a separate development, Fakeeh Care disclosed in a stock exchange filing that DSFH also contracted with AHC for the Obhur Jeddah Hospital project, with a contract value of SR67.5m.  

AHC's role will be to provide construction materials and resources, excluding medical equipment and furniture, for the Dr Soliman Fakeeh Medical Center (DSFMC) in Obhur, Jeddah.  

The centre is expected to feature 22 clinics, two day surgery clinics, and a range of medical services, including primary and specialty care, as well as diagnostic services.  

The construction timeline for this project is set at 18 months, with the expected operational start in the fourth quarter of 2025. 

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