Riyadh - Mubasher: Gulf International Bank - Saudi Arabia (GIB Saudi Arabia) has closed a SAR 400 million project finance facility with Saudi German Health to build a hospital in Jeddah.
Spanning over 65,000 square metres, the hospital is led by Humania Capital, an investment arm of the Bait Al Batterjee Group, in partnership with Middle East Healthcare Company (MEAHCO), according to a press release on Sunday.
The financing facility was underwritten by GIB Saudi Arabia and was closed in a two-bank financing deal between GIB and Bank Al Jazira.
The Group CEO at GIB, Abdulaziz Al Helaissi, commented: "Enhancing development in this strategic industry and backing private sector participation in the economy is a strategic pillar of the Kingdom’s Vision 2030 and GIB continues to prioritise and play an important role in driving economic diversification and private sector growth."
Meanwhile, the CEO and Managing Director of Bank Al Jazira, Naif Abdulkareem, said: "In line with the Kingdom’s Vision 2030, Bank Al Jazira is strongly committed to playing a pivotal role in the Health Sector Transformation and will continue to support to achieve an improved health and healthcare services in cooperation with all public and private health sector bodies."
