Riyadh – Sharikat Mubasher: Morocco’s Akdital Group announced signing two memoranda of understanding (MoU) with Saudi partners Wataniah Business Real Estate and Namaya (Al Fozan Holding) to establish private hospitals in Riyadh and Jeddah.
Backed by the Saudi Ministry of Investment, the $200 million project will see the creation of two real estate companies dedicated to developing Akdital hospitals in the Kingdom, with openings expected by 2027, as per the Moroccan Group's announcement on Thursday.
Each project will cost approximately $100 million, with around 70% allocated to land and construction by real estate investors, while the remaining amount will cover the cost of equipping the hospitals with necessary medical equipment by Akdital. The capacity of each hospital is expected to range between 150 and 250 beds.
The move marks Akdital’s first international expansion and aligns with Saudi Arabia’s Vision 2030 goals to modernize healthcare and attract foreign investment. The group previously announced plans to open four hospitals across the UAE and Saudi Arabia by 2030, aiming to become a major regional healthcare player.
