Dallah Healthcare Expands with $184 Million Riyadh Hospital Agreement

On June 27, 2024, Dallah Healthcare Company announced the signing of a SAR 690 million (USD 184 million) contract with Youssef Marroun Contracting Company. The agreement involves the construction of a new 45,000 square meter hospital in the Al Arid area of Riyadh.

The 24-month contract includes the construction, electromechanical work, and finishing touches for the hospital. Dallah Healthcare anticipates that the new facility will begin contributing to its financial performance in the first quarter of 2027.

In the first quarter of 2024, Dallah Healthcare, a company listed on the Tadawul stock exchange, reported a 26.03% year-over-year increase in net profit, reaching SAR 119.30 million, up from SAR 94.66 million. Additionally, revenues rose by 9.40% to SAR 784.06 million from SAR 716.64 million in the same period of the previous year. Earnings per share (EPS) also saw an increase, climbing to SAR 1.22 from SAR 0.98.

Source: Mubasher