Ajman Bank inks deal to finance new $91m hospital

Saudi German Hospital – Ajman will include 150 beds, set for completion in 2018

Ajman Bank has signed a financing agreement with Saudi German Hospitals Group for the construction of a new hospital in the emirate.

The Saudi German Hospital – Ajman will include 150 beds and the total project cost is AED327.3 million ($89 million), a statement said.

The two companies said in the joint statement that the completion of all phases of the project is expected in 2018.

The signing of the agreement was witnessed by Mohamed Amiri, CEO of Ajman Bank, and Sobhi Batterjee, CEO and chairman of the Saudi German Hospitals Group.

Amiri said: "This agreement is a true reflection of Ajman bank’s focus and keenness of the bank to support the medical sector, by financing specific development projects that promote integrated healthcare system in the emirate of Ajman.

“We are confident that the Saudi German Hospital – Ajman will offer access to quality healthcare for the people of Ajman by providing finest medical and therapeutic services.”

Batterjee said that an "enormous healthcare opportunity" existed in Ajman, adding: “Apart from the local demand there is enormous opportunities for medical tourism in the emirate of Ajman, in particular the UAE and the region.”

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