Almoosa Health lines up Saudi Awwal Bank facility to fund Specialist Hospital

Almoosa Health secures a hefty loan from Sab: Al Ahsa-based — and recently Tadawul-listed — healthcare provider Almoosa Health secured a SAR 1.34 bn sharia-compliant loan from Saudi Awwal Bank (Sab) to fund the construction of its new specialist hospital in Al Khobar, according to a statement (pdf). The 10-year facility will finance one of the Eastern Province’s largest private healthcare projects.

About the project: The Almoosa Specialist Hospital, under development on the New Khobar Corniche, will span more than 300k sqm and house up to 400 beds. Designed by Perkins & Will, the project targets LEED Gold certification and follows global sustainability standards.

What they said: “This agreement reflects the confidence placed by leading financial institutions in Almoosa Health’s financial strength and its ability to deliver sustainable expansion through high-impact projects that advance the Kingdom’s healthcare infrastructure. The financing from Sab is a key enabler of the Khobar hospital project which is poised to become a new benchmark for modern healthcare in the Eastern Province,” CEO Malek bin Abdulaziz Almoosa said.

IN CONTEXT- The financing comes as Saudi borrowers increasingly turn to non-marketfunding, a trend Fitch expects to accelerate as the government seeks to bridge fiscal gaps without further crowding capital markets. The shift is already visible, with Saudi reportedly in talks to raise up to USD 10 bn through a syndicated loan, after securing at least two similar facilities since 2016.

ICYMI- Almoosa Health’s net income jumped 282.6% y-o-y to SAR 154.5 mn in 9M 2025, supported by higher patient volumes and the opening of new medical centers in Al Ahsa and Al Khobar. Revenue climbed 18.2% to SAR 1 bn over the same period.