Riyadh - Mubasher: Mouwasat Medical Services Company expanded hospital projects across Saudi Arabia, with a total cost of SAR 1.38 billion, according to bourse disclosures.
The expansion plan will be self-financed and funded by local banks with long-term Shariah-compliant loans.
Riyadh
The group will add a new building with a capacity of 100 adjacent to the existing hospital at a total value of SAR 330 million.
The construction phase will kick off during the first quarter (Q1) of 2026 after obtaining the regulatory approvals, with the project expected to be completed in Q4-28.
Subject to the approval of the Ministry of Health, the commercial production is forecast to begin in Q2-29, along with the financial impact.
Qatif Expansion
Mouwasat Qatif Hospital, owned by the Eastern Medical Services Company, a subsidiary in which listed Mouwasat owns 51%, will have additional 100 beds for SAR 350 million.
Starting in Q4-25, the project is expected to be implemented in Q2-28 and operational in Q4-28.
The three-month pilot phase will kick off during the July-September 2028 period.
Al Ahsa Hospital
At a total cost of SAR 700 million, the hospital will feature 200 beds by Q3-29, the pilot production.
The construction will take place from Q1-26 until Q2-29, whereas the commercial production will be during Q4-29.
In the first half (H1) of 2025, Mouwasat generated net profits totaling SAR 384.01 million, an annual increase of 18.41% from SAR 324.28 million.
