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Amanat and Mada to develop Saudi health PPPs

Mohammed Al Jadaan, Saudi minister of finance. The kingdom has appointed an executive specifically to lead its virtual assets and digital currency programme Reuters
Saudi Arabia’s annual budgets stem from “very conservative” oil revenue estimates, said finance minister Mohammed Al-Jadaan
  • Partnership considering tenders
  • Health ‘high priority’ for privatisation
  • $50bn for sector in 2023 budget

Amanat Holdings has partnered with Mada International Holding to develop public-private partnerships (PPPs) in the healthcare industry across Saudi Arabia.

Amanat, a Dubai-listed healthcare and education investment company, and Saudi developer Mada are already considering a tender for the 900-bed PPP post-acute care facilities in Riyadh and Dammam.

The tie-up is expected to fuel Amanat’s ambitions to deliver 1,000 beds across Saudi Arabia over the next three years.

It also supports the kingdom’s Vision 2030 and efforts to address an estimated 16,000-bed supply gap in post-acute care.

Saudi Arabia allocated SAR189 billion ($50 billion) in its 2023 budget to health and social development, alongside education as the biggest expenditure for the country behind defence.

The National Center for Privatization & PPP (NCP) previously approved a pipeline of 200 projects spanning 17 sectors, involving more than $50 billion in investment.

Mohammed Al Jadaan, Saudi minister of finance and chairman of the board of NCP, said that the kingdom had privatised 30 projects over the last five years.

“Healthcare and education are especially high priority sectors for privatisation,” said Sarah Al-Shawwaf, senior vice president of Albright Stonebridge Group.

Saudi Arabia’s health ministry in June awarded one of the kingdom’s first PPP projects in the healthcare sector to Altakassusi Alliance Medical. 

This aims to deliver better radiology and imaging services to more than one million people across seven hospitals.

Mada International Holding has been involved in a number of PPPs in Saudi Arabia, including the $1 billion Prince Mohammed Bin Abdulaziz International Airport in Madinah, the GCC’s first airport expansion using a PPP.

Amanat Holdings in December 2022 announced the creation of the largest pan-GCC post-acute care platform with the merger of Sukoon International Holding Company with Cambridge Medical & Rehabilitation Center.

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