Saudi healthcare provider to build $126mln maternity, children’s hospital

Saudi healthcare provider to build $126mln maternity, children’s hospital

Saudi Arabia's major medical services provider, Dr Sulaiman Al Habib Medical Services Group, has approved the construction of a new maternity and paediatric hospital in the kingdom.The new facility will be a branch of the existing Gharb Al-Takhassusi Hospital, and will be built on a land owned by the company in Riyadh, at a cost of 472 million Saudi riyals ($126 million).Construction is scheduled to start in the third quarter of 2020 and is expected to be completed by the fourth quarter of 2023, the company said in a statement to the Saudi Stock Exchange (Tadawul).The hospital will open in early 2024, subject to the approval by the kingdom's Ministry of Health.The company announced yesterday that it would distribute a four percent cash dividend to shareholders despite a quarter-on-quarter revenue