Built to inform

Sign up for the daily newsletters

No, Thank you

Dallah Healthcare to build new Riyadh hospital

Construction to begin in second quarter of 2014 and take three years

Photo for illustrative purposes
Photo for illustrative purposes

Dallah Healthcare Holding, a new medical company which floated its shares on the Saudi stockmarket in November last year, has announced a deal to buy a plot of land in west Riyadh on which it plans to build a new hospital.

The company paid $16.9m for the site, which consists of around 40,000m2 of land. It said that it would pay for the site with the proceeds from the IPO undertaken late last year, which saw it raise $143m to fund expansion.

The company said that construction of the new hospital is expected to start in the second quarter of 2014 and will take three years to complete.

A report published by NCB Capital in November last year estimated that the size of healthcare spending in Saudi Arabia is likely to grow by 16.8% a year to $46.4bn (SR: 174bn) by 2017.

 

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 753
Nov 09, 2019