Fakeeh Care signs SAR 86.2M contracts for Masar Makkah, Obhur Jeddah projects

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) said that Advanced Horizons Contracting Co. (AHC) signed on Sept. 2 a contract at SAR 18.7 million with Asas Al-Amar Contracting Co. for the stabilization, water lifting, and excavation works required for Dr. Soliman Fakeeh Masar Makkah Hospital.

 

AHC is 100% owned by Dr. Soliman Fakeeh Hospital (DSFH), the company said in a statement to Tadawul.

 

 

The contract covers the shoring, dewatering and excavation works of Masar Makkah Hospital. Work is likely to continue for nine months.

 

The project is expected to affect the group’s liquidity during the construction period. The relevant financial impact is expected to show once the hospital commences operations in H2 2027.

 

The hospital is expected to include at least 200 beds with a total built-up area of nearly 136,000 square meters, built on a rented land of approximately 9,700 square meters.

 

The hospital will offer a range of medical services utilizing 70 clinics, seven operating theatres and 36 intensive care units.

 

In a separate statement, Fakeeh Care said it also signed a contract with AHC on the same date for Obhur Jeddah Hospital, at a total value of SAR 67.5 million.

 

The group expects this facility to include 22 clinics and two day surgery units, offering a range of medical services, including primary healthcare, specialized care, and diagnostic services.

 

The contract covers all construction work, including materials and all necessary resources, except for medical equipment/medical furniture, for the Dr. Soliman Fakeeh Medical Center in Obhur, Jeddah. The construction is expected to take 18 months.

 

The project is likely to impact the group's liquidity during the construction period. The relevant financial impact is expected to show once the hospital starts operations in the fourth quarter of 2025.