Dr. Sulaiman Al Habib Medical Group (HMG) has announced a $1.73bn (SAR6.489bn) expansion that plans the construction of six new hospitals to be operational in the next two years, two in 2023, three in 2024, and one in 2025. The HMG 2022 annual report also highlighted new signed leases and construction, operation, and maintenance plans new hospitals in Tabuk and Madinah. The largest of the upcoming properties, is the Shamal Al Riyadh (North Riyadh) hospital, valued at $586.5mn (SAR2.2bn), with a capacity for 500 beds and a 2023 completion date.
The Tadawul-listed company mentioned in the report the complete construction of a medical centre in the Digital City that’s set for this year, and four other medical centres in Riyadh and Qassim for 2024. In addition, opting to provide a wider range of services to its patients, HMG decided to upscale the Al Hamra medical centre in Riyadh into a 90-bed hospital, a decision that totalled $143.7mn (SAR539mn) (inclusive of land cost).
The 2022 Annual Report Listed Hospitals:
Shamal Al Riyadh (North Riyadh) Hospital
Construction cost: $586.5mn (SAR2.2bn)
Land cost: $175.8mn (SAR659.5mn)
Number of Beds: 500
Expected Completion date: 2023
Gharb Jeddah (Southwest Jeddah) Hospital
Construction cost: $399.9mn (SAR1.5bn)
Land cost: $35.4mn (SAR132.6mn)
Number of Beds: 330
Expected Completion date: 2023
Maternity and Pediatric Hospital (New Takhassusi Expansion)
Construction cost: $104.2mn (SAR391mn)
Land cost: $21.5mn (SAR80.8mn)
Number of Beds: 145
Expected Completion date: 2024
Al Muhammadiyah (North Jeddah) Hospital
Construction cost: $399.9bn (SAR1.5bn)
Land cost: $64.9mn (SAR243.5mn)
Number of Beds: 350
Expected Completion date: 2024
Sehat Al Kharj Hospital
Construction cost: $114.1mn (SAR427.8mn)
Land cost: $8.1mn (SAR30.2mn)
Number of Beds: 141
Expected Completion date: 2024
Al Hamra Hospital
Construction cost: $125.3mn (SAR470mn)
Land cost: $18.4mn (SAR69mn)
Number of Beds: 90
Expected Completion date: 2025
