Al-Modawat to step up hospital expansions, starts to equip eastern building

The estimated value of the project after increasing the expansions is SAR 16.31 million, the company said in a filing to Tadawul.

The actual total cost of expansions may be higher or lower than the estimated cost of the project, and it includes the cost of previously announced construction and equipment works. However, it does not include manpower costs.

The expansion of the western building spans 3,000 square meters (sqm) on the second floor, including patient rooms.

Meanwhile, the expansion of the eastern building spans 3,600 sqm, including 42 clinics and a radiology department. This is in addition to a men’s sports club over 2,000 sqm and a women’s sports club over 2,000 sqm, as well as a warehouse area, administrative offices, and a mosque.

The previously announced works are proceeding as scheduled and are expected to be delivered on time, the company said, adding that the implementation of the new works in the eastern building will take a maximum period of 18 months.

The relevant financial impact will begin when the project is completed and starts operations, and it is expected to be positive as the project will boost the company’s business.

Relevant developments will be announced in due course, the medical services provider said, adding that there are no related parties to the project.

The board of directors decided, on March 16, to start the hospital building expansion project, due to the high occupancy rates. The estimated value of the project is SAR 3.2 million, Argaam earlier reported.