Middle East Healthcare Company (MEAHCO) has issued a statement noting that construction work is progressing at pace on its Saudi German Hospital project in Dammam, Saudi Arabia. According to MEAHCO, 38% of the facility has been completed.
Construction of the project began in December 2016, after MEAHCO awarded the $90m contract to International Hospital Construction Co. The project is being partially funded through an Islamic financing package ($80.1m), with the remainder being provided by MEAHCO directly.
MEAHCO also says it is building a further eight hospitals across the Middle East, including a 100-bed facility in Ras Al Khaimah. That hospital is to offer a range of healthcare services, including medical, rehabilitation, and cosmetic. Initially it will offer seven specialities but is expected to go up to 13 by 2020.
Founded by the Batterjee family, MEAHCO currently owns four Saudi German Hospitals in the Kingdom, located in Jeddah, Riyadh, Madinah and Khamis Mushait. MEAHCO also owns a 32.3% stake in Hail National Health Services Co, and is currently building a new hospital in Hail.