KFMC overshoots target budget
Phase one of project likely to be completed by second quarter of 2014, officials say
The King Faisal Medical City is likely to overshoot its targeted budget of $1.1bn, officials say.
The first phase of the King Faisal Medical City (KFMC) project in Saudi Arabiais 20% completed, but the cost is likely to exceed the targeted budget, according to a KFMC official.
The entire phase is set for completion by the second quarter of 2014, with the second phase expected to be completed at the end of 2015, KFMC executive manager, Dr Ahmed Al Nami told Zawya.
In February 2012, the Health Ministry awarded Al Fouzan Trading and General Construction Company a three-year contract to build the first stage of the project with a capacity of 500 beds at a total cost of $1.1bn.
“This is two years in advance of the scheduled completion date, but the cost is likely to overshoot the targeted budget of $1.1bn,” Dr Al Namiwas quoted as saying by the news service.
The King Faisal Medical City, which aims to serve the Kingdom’s Southern Province, will be built on an area of 262,836 m2. Designed by HDR Middle East, the KFMC will comprise a specialised hospital, eye hospital, and cardiac and neuroscience hospitals.
The clinical capacity of the project totals 1,350 beds. It will also have 200 housing units and 200 independent apartments for the staff.
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