The Eastern Province Secretariat has awarded an investment project in partnership with the private sector to develop and establish an integrated medical city in Al-Aziziyah, Al-Khobar Governorate, covering an area of more than 32,000 square meters, under an investment contract spanning 50 years.
His Excellency the Secretary of the Eastern Province, Engineer Fahd bin Mohammed Al-Jubeir, explained that this project represents a qualitative leap in the region’s healthcare system, as it provides direct support for healthcare and rehabilitation, thereby promoting cost rationalization, and efficient spending, improves quality of life, and creates job opportunities for the region’s residents, in line with the objectives of the Kingdom’s Vision 2030.
He noted that the project reflects the Secretariat’s commitment to increasing the municipal sector’s contribution to improving health services by involving the private sector in development and strengthening the region’s economy. The medical city will include integrated health facilities, support services, and a variety of activities, thereby enhancing the efficiency of healthcare and keeping pace with the population and urban growth the Eastern Province is experiencing.
It is worth noting that the Eastern Province Municipality has managed to invest more than 95% of its assets through over 5,000 investment contracts, with total investments exceeding 30 billion riyals, and annual revenues exceeding 2 billion riyals, as part of its efforts to achieve financial sustainability, improve spending efficiency, and stimulate economic activity, in collaboration with various government agencies and the private sector.
The investment opportunities offered by the Eastern Province Municipality provide investors and entrepreneurs with the chance to take advantage of available investment benefits, such as contract terms of up to 50 years, exemption periods of up to 10% of the contract term, reduction of bank guarantees to 25% of the bid value, and flexible partnership models such as revenue sharing, Those interested can contact the Secretariat’s Center of Excellence for Investment or explore opportunities through the digital portal for investment in Saudi cities or the “Fursat” app.