Saudi-Canadian PPP to build $133m hospital
The hospital will earn King Saud University a percentage of its earnings, irrespective of profits or losses, it has been reported
King Saud University is partnering with a Canadian company to establish the first public private collaboration in the health sector, it has been reported.
The $133.3m (SAR500m) hospital to be built within a year’s time will have a capacity for 120 beds, cover all specialisations, and earn King Saud University a percentage of its earnings, irrespective of profits or losses.
The building's superstructure is already completed, president of the Saudi Canadian business council Emad Thukair, told Zawya.
The Kingdom reduced healthcare spending by 35% in 2016 to $27.7bn (SAR104bn), down from $42.6bn (SAR160bn) in 2015.
“Vision 2030 has a big role to play in opening up privatizing health services and opening up opportunities to the private sector, helping improve services,” Thukair added.