Sulaiman Al Habib signs contract with Zamil Industrial at SAR 758.6 million for executing MEP work for Al Muhammadiyah Hospital in Jeddah

Dr. Sulaiman Al Habib Medical Services Group announced it signed a contract through its wholly owned subsidiary company (Al Muhammadiyah Hospital for Healthcare Company) with Zamil Air Conditioning and Refrigeration Services Company for the Mechanical, Electrical and Plumbing (MEP) works for Al Muhammadiyah Hospital (the “Project”) in Jeddah city with a total amount of SAR 758.6 million (inclusive of VAT).

The group stated on Tadawul on Monday that the contract duration is 14 months and 15 days, and the Project is expected to have a financial impact on the financial results of the Group when it starts operating, which is expected to be at the end of 2024.

Adding that the Group intends to finance the Project through its own resources and long-term Shariah-compliant facilities from local banks.