Kingdom Holding Company (KHC), the investment vehicle of Saudi billionaire Prince Alwaleed bin Talal, has announced a massive SR550 million ($147 million) expansion plan for its hospital based in Riyadh.
Announcing the details on Tuesday, KHC said the expansion will be carried out on the adjacent plot of land south of the Kingdom hospital which had been recently acquired by the company.
The new expansion will encompass an inpatient tower, an outpatient treatment pavilion, and a day surgery center, the company said in a statement.
The project will be developed over the next three years with a total build-up area of 85,000 sq m. A major highlight will be the expansion of emergency department and trauma center which will double in size to accommodate over 100,000 adult and pediatric visitors.
The other major components of the expansion will include:
*Specialized outpatient clinics to accommodate one million visits a year
*A added patient-bed tower, including the addition of 150 new private rooms
*State-of-the-art operating rooms and day surgical services areas
*Two levels of underground parking
Commenting on the move, Prince Alwaleed said, ‘The magnitude of this investment expansion plan reflects Kingdom Hospital’s commitment to provide high quality care, combining clinical skills and cutting edge technologies.’
He said the hospital’s expansion was in line with the company’s strategic local investment strategy.
This is in response to the dedication and commitment of the cabinet of the Custodian of the Holy Mosques in supporting the private healthcare sector to deliver advanced care and the latest treatment modalities, the KHC statement added.
Talal Ibrahim AlMaiman, executive director for development and domestic investments, KHC board member and Kingdom Hospital the chairman said, “The hospital together with consulting clinics and pharmacies are determined to maintain their leading position as a premiere health care provider locally and regionally.’
‘Our investment in the health sector will have rewarding returns to KHC’s investors,’ he added.
Dr Fayez Takieddine, the executive director, Kingdom Hospital and consulting clinics said, “The expansion is in keeping with its mission of providing hitech medical care and exceeding patient satisfaction. Kingdom Hospital will expand its differentiated services in coordination and in association with leading medical centers of the world.”
With the expected rise in demand for healthcare in Saudi over the next two decades, this new project will increase patients’ access to an evidence-based healthcare as it is expected to accommodate over one million outpatient visits a year, he noted.
KH project’s insignia “Expanding Excellence… Building Today for Tomorrows Healthcare” reflects how the hospital envisions its role in the healthcare market in Saudi Arabia and the region, remarked Dr Takieddine.
The project demonstrates a rethinking of the use of the physical and technological infrastructure and design to improve the patient’s experience and to enable the hospitals clinical and administrative staff to work in an environment that exemplifies their professional and medical expertise, he added.
