Almoosa Health Co. has signed a SAR 608.85 million contract with AlMajal Alarabi Group to complete electrical, mechanical, and architectural finishing works for its Al Hofuf Specialist Hospital. The project, valued at SAR 608.85 million excluding VAT, is expected to take 16 months and will be funded through the company's resources and Sharia-compliant bank facilities. This follows a prior SAR 192 million contract for preliminary construction works. The hospital, set to open in Q2 2027, will have 300 beds and 200 clinics, enhancing healthcare infrastructure in Saudi Arabia. The deal signals long-term growth potential for Almoosa but may not immediately impact earnings.
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