Fakeeh Care awards $27mln contract for new medical centre in Jeddah
Dr. Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care) has broken ground on a new medical center in Al Zahra district in Jeddah.
The company awarded a 101.8 million Saudi riyals ($27.14 million) construction contract to its wholly-owned subsidiary, Advanced Horizons Contracting Company, Fakeeh Care said in a statement to the Saudi stock exchange on Sunday.
The project's construction and finishing cost will be funded by Yaser Yousef Naghi for Investment Company (lessor) as part of the deal.
In October 2024, Fakeeh Care signed an agreement with Yaser Yousuf Naghi to build and lease a medical centre in Al Zahra district.
No project completion was given.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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