Dallah inks SAR 140 mln deal to expand Hospital Al-Nakheel

Dallah Healthcare Co. signed on Sept. 18 a SAR 140 million contract with Youssef Marroun Contracting Co. to start the construction for the expansion of Dallah Hospital Al-Nakheel, the company said in a statement on Tadawul Monday.

The construction, including the structure and some mechanical, electrical, and plumbing (MEP) works, will start on Sep. 25, the statement said.

The project, which will raise the hospital’s capacity to 150 beds and 30 clinics, will be financed from the company’s funds as well as a Murabaha loan from LT Bank.

The contract is expected to be completed by Q2 2019, the statement said.

The deal has no related parties, the statement said, adding that the date of operation and financial impact of the contract will be announced later.