Oman to start work on new healthcare complex

March, 18th 2016

Oman-based Al Madina Real Estate will start work on its RO72 ($186 million) integrated healthcare complex at Al Hail region of capital Muscat by the middle of 2016, said a report.

The Al Madina International Hospital project will boast of a 225-bed tertiary-care hospital, 120-key three-star hotel apartments, 300 residential unit besides a fitness centre and a dedicated retail space, reported the Oman Observer.

The hospital will offer specialist care across 16 different disciplines, which is unprecedented in the private healthcare sector in Oman, stated the report citing a senior company official.

"The project is in the concept design stage, with the design work covering the entire project," Mohsin Shaik, the director and head of Islamic Finance, Al Madina Investment, was quoted as saying in the report.

"The fund-raising is progressing well too, although we still have some room for investors to come on board. By the second quarter, we should be able to kick off construction work on the project,” he added. The complex is targeted for completion by late 2018 or early 2019.

Source: www.tradearabia.com