Dr Sulaiman Al Habib Medical Services Group’s board of directors has approved the Al-Jubail Hospital project, valued at around SR571m ($152.16m).
To be established via the group’s wholly owned subsidiary Bawabat Al Sharq for Healthcare, the facility is poised to offer a range of healthcare services with its 145-bed capacity.
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Subject to the necessary regulatory consents, the construction of the integrated hospital is slated to commence in the fourth quarter (Q4) of this year.
The group plans to finance the project via its own funds complemented by Shariah-compliant loans from local banks.
The company anticipates completing the construction phase by Q4 2028. A period of testing and commissioning, expected to take place in Q1 2029.
Al-Jubail Hospital is projected to begin contributing to the financial results of the company from Q2 2029, pending regulatory approvals.
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By GlobalDataDetails regarding the pilot production phase, including its start date and duration, have not been disclosed at this time.
Construction contracts have yet to be signed, with the company stating that agreements with specialised contractors and suppliers will be finalised after receiving regulatory approval.
Dr Sulaiman Al Habib Medical Services Group has announced that it will disclose any developments concerning the project in line with prevailing regulations. The firm has also clarified that there are no related parties involved in the transaction.
On 16 May 2023, the group entered a conditional investment agreement with the Royal Commission for Jubail and Yanbu to secure a 115,500m² plot in the Al-Dafi district of Jubail Industrial City.
This land will serve as the site for the hospital’s construction and future operations.
