Skip to content Skip to Search
Skip navigation

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.

Latest articles

Saudi sport

Saudi sports push ‘winning global audiences’

Saudi sports investments are winning a global audience as the kingdom tries to overcome charges of “sport washing”, a major survey of media coverage said this month. Media analytics consultancy Carma found that coverage of human rights in Saudi Arabia fell in favour of “a sports-related narrative” around the world, including in the West. The […]

Gas flaring at a plant in Veracruz state, Mexico. The country is one of the biggest contributors to global flaring, along with Iran, Iraq and Libya

Iran, Iraq and Libya among worst offenders on gas flaring

Environmentally ruinous flaring of gas at upstream oil and gas facilities has risen to its highest level for five years, despite pledges to end the practice, the World Bank has said. Iran, Iraq and Libya were among the biggest contributors in 2023, according to a World Bank report published on June 20. Along with six […]

'We need to be extra cautious, but... also opportunistic', says Bahrain FinTech Bay CEO Bader Sater about the country's approach to crypto

Bahrain remains cautious but crypto pursuit advances

Bahrain will not sacrifice its position as a trusted financial centre as it chases cryptocurrency millions, according to the boss of fintech incubator Bahrain FinTech Bay. Earlier this month the kingdom’s central bank gave BitOasis Bahrain, a regional crypto trading platform, a so-called Category 2 crypto-asset services licence. The regulatory approval means that the broker-dealer […]

A money exchange centre in Cairo. The World Bank funding is intended to support private sector growth in Egypt

World Bank’s $700m push for Egypt’s private sector

The World Bank will provide $700 million in funding to Egypt to address short-term economic challenges. The development policy financing (DPF) will aid in supporting the Egyptian government’s focus towards more private sector participation. The financing will further advance structural reforms to level the playing field to support private sector growth, build macroeconomic and fiscal […]