Riyadh - Mubasher: The board of Dr. Sulaiman Al Habib Medical Services Group approved two new integrated hospital projects in Riyadh and Dammam, with a combined estimated value of SAR 1.97 billion.

The Riyadh hospital will be developed by Bawabat AlGharb for Healthcare Company, a wholly owned subsidiary of the listed medical group, according to a bourse filing.

Located in the Al-Munsiyah district along Dammam road, the facility will span 15,050 square meters (m²). The hospital will be established for SAR 991 million, featuring 160 beds and clinics across multiple medical specialties.

Meanwhile, the SAR 988 million Dammam hospital will be developed by Sehat AlSahel Company on a land area of 17,203 m² in Al-Manar district on King Fahad road. It will feature 145 beds and specialized medical clinics.

The construction phase for both projects is expected to begin in the fourth quarter (Q4) of 2025 after obtaining the regulatory approvals.

Completion is anticipated by Q4-28, while the testing and commissioning are set for Q1-29. The hospitals are scheduled to commence operations in Q2-29.

The medical projects will be financed through internal resources and long-term Sharia-compliant loans from local banks.

They are expected to impact Dr. Sulaiman Al Habib’s financial results starting in Q2-29. 

In the first nine months (9M) of 2025, the Tadawul-listed group registered 2.86% higher net profits at SAR 1.75 billion, compared with SAR 1.70 billion.