25 Feb

Fitaihi Holding Group Announces that its Associate Company (International Medical Center) Signed Design and Project Management Agreements with Specialized Companies for Establishing a New Hospital in Jeddah

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Element List Explanation
Introduction Fitaihi Holding Group announces that its associate company (International Medical Center Company) has signed, on Wednesday, 21-02-2024, design and project management agreements with specialized consulting companies for a new project for the IMC, which will be built on a land owned by the International Medical Center Company in North Obhur in Jeddah on an area of (20,800 sqm.) for the purpose of establishing a new integrated hospital (various specialities).
Date of Announcement of the Award 2024-02-21 Corresponding to 1445-08-11
Contract Subject Matter Preparing hospital designs and project management
The Entity with Which the Contract was Signed First agreement with: Dar Al-Handasah Company (for hospital design)

Second agreement with: Midrar General Construction Limited (for project management)
Date of Signing the Contract 2024-02-21 Corresponding to 1445-08-11
Contract Value The total value of both agreements reached 21 million Saudi Riyals
Contract Details Prepare designs, and provide project management of a new hospital project in Jeddah, with a total area estimated at 20,800 sqm.

Laying the foundation stone for this new hospital will begin after completing the necessary studies and after getting the necessary official approvals.
Contract Duration First agreement: 8 months

Second agreement: 31 months
Financial Impact and the Relevant Period Currently, there is no expected financial impact. Any substantial developments will be announced later.
Related Parties N/A
Additional Information It is worth noting that Fitaihi Holding Group owns 19.25% of the capital of the IMC, which owns the International Medical Center Hospital on Hail Street in Jeddah, with an area of (20,237 sqm.), with a capacity of (300) beds in various specialities. The IMC also has The First Clinic Complex on King Road in Jeddah, with an area of (8,829 sqm.), in addition to the “Specialized Clinics and One-Day Surgery Center” project in Makkah, with an area of (19,450 sqm.), that is expected to open in the last quarter of the year 2024.

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