Construction of $90m Saudi German Hospital in Saudi 23% complete
The Dammam project, being built by International Hospital Construction, is due to open by 6 June, 2019
Updates have been revealed about the construction of Saudi German Hospital's new facility in Dammam.
Work on the project began on 7 December, 2016, after International Hospital Construction Company was awarded a $89.7m (SAR336.4m) contract comprising construction services, medical equipment, and furniture.
The Dammam hospital is currently 23% complete, with full completion expected by 6 June, 2019, the hospital company revealed in a statement to the Saudi bourse.
At the time of the contract award's announcement in 2016, Saudi German Hospital said that the project would be funded by Islamic financing mechanisms.
A local bank would provide $80.1m (SAR300m) for the Islamic financing package, with the remaining to be funded directly by the company.
At the time of the contract's announcement, Saudi German Hospital said the project would have a positive impact on its revenues and income.