New Square Development Company —a subsidiary of the Public Investment Fund and the lead developer for Downtown Riyadh—an investment partnership with Al-Mana Medical Group to develop a general hospital within the destination, with a total investment estimated at approximately one billion riyals; this reflects investors“ growing confidence in the New Square’s vision, and its ability to attract strategic partners who contribute to the development of world-class community infrastructure.
The hospital will feature approximately 200 beds, along with a wide range of medical services and specialties, including emergency and trauma care, family medicine, pediatrics and neonatal care, orthopedics, cardiology, neurology, and other major healthcare specialties.
The project aligns with the Kingdom’s healthcare transformation goals and the Quality of Life Program by supporting access to advanced healthcare services within a modern urban environment.
The destination is designed to accommodate more than 280,000 residents, with a network of health and educational facilities and community services that contribute to building vibrant and interconnected neighborhoods, and the hospital is a significant addition to this integrated system, as it will help meet the future healthcare needs of the New Square’s residents and visitors.
The healthcare sector is one of the key pillars of the New Square’s master plan, which is based on developing integrated neighborhoods according to the ”15-minute community“ concept, ensuring easy access to essential services and facilities.
Engineer Sabah Barakat, Acting CEO of The New Square, explained that the hospital will help support the community services system to serve the destination’s visitors and residents, and will support the Kingdom’s goals in developing the healthcare sector and enhancing quality of life. This investment partnership is the first in a series of partnerships to be announced in the coming months, coinciding with the project’s transition from the planning phase to the implementation phase.
For his part, Awad Al-Omari, CEO of Al-Mana Medical Group, said: “The Group’s investment in Al-Murabba’ Al-Jadid represents a strategic healthcare investment that goes beyond the concept of traditional real estate investment. He emphasized the Group’s pride in being among the first investors in Al-Murabba’ Al-Jadid, and among the first partners contributing to turning its ambitious vision into reality.
This partnership is part of Al-Mubarak’s efforts to develop an integrated global urban destination that enhances quality of life through advanced social infrastructure, accessible community services, and strategic partnerships that contribute to supporting sustainable growth and maximizing long-term economic value.
«Al-Murabba» Al-Jadid" Signs a 1 Billion Riyal Investment Partnership to Develop a Hospital in Downtown Riyadh
The hospital, with a capacity of 200 beds and advanced specialized services, is part of the project’s first partnerships as it moves from the planning phase to implementation.
