‎Almoosa signs MEP contract for Al Khobar Hospital

September 22, 2026

‎Almoosa signs MEP contract for Al Khobar Hospital

‎

Almoosa Health’s hospital project in Al Khobar is scheduled for completion within 24 months.

Almoosa Health Co. signed on Sept. 21 a contract with BEC Arabia worth SAR 781.66 million, excluding value-added tax (VAT), according to a statement to Tadawul.

The contract covers the execution of electrical and mechanical works for the Almoosa Specialist Hospital project in Al Khobar, in accordance with the approved engineering designs and technical specifications.

Work will commence immediately, with the project expected to be completed within 24 months.

The relevant financial impact will likely appear upon completion of the building and commencement of hospital operations.

There are no related parties involved in the deal, the statement added.

The company noted that it plans to finance the project through its own resources and long-term Shariah-compliant bank loans.

According to data available with Argaam, the company stated in its prospectus that the hospital is expected to open in Q1 2028.

In November 2025, the company signed a SAR 657.5 million contract with BEC Arabia Co. for preliminary construction works, foundation works and construction of the project’s concrete structure.

It also signed a SAR 1.34 billion credit facility agreement with Saudi Awwal Bank (SAB) in November 2025 to finance the project.

In August, it announced the completion of excavation and site preparation works. Construction of the structural framework was 43.5% complete, compared with the planned 40.9%. The project is expected to open in Q1 2028.