Ajman Bank signs financing agreement with Saudi German Hospitals Group

28/02/2017 16:35 AST

Ajman Bank has signed a financing agreement with Saudi German Hospitals Group for the construction project for the development of Saudi German Hospital - Ajman (SGH-Ajman) with 150- bed facility in the emirate of Ajman.

The total project cost is AED 327.3 million. The two sides announced in a press conference that the completion of all phases of the project and formal opening of the hospital is expected in 2018

The signing of the agreement was witnessed by Mr. Mohamed Amiri, Chief Executive Officer of Ajman Bank, and Engineer Sobhi Batterjee, CEO and Chairman of the Saudi German Hospitals Group.

Mr. Mohamed Amiri, Chief Executive Officer of Ajman Bank said, "We at Ajman Bank are delighted to have partnered with Saudi German Hospitals Group for financing the development of Saudi German Hospital - Ajman (SGH-Ajman). 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 health care system in the Emirate of Ajman. Mohamed Amiri continued, "We are confident that the Saudi German Hospital - Ajman will offer access to quality health care for the people of Ajman by providing finest medical and therapeutic services through a comprehensive and distinct health systems that contributes to the development of an integrated system to deliver high quality medical and health care services in the emirate of Ajman."

During the signing in ceremony, Engr. Sobhi Batterjee, President of Batterjee Medical Company and CEO and Chairman of the Saudi German Hospitals Group said, "We would like to thank Ajman bank and its vision of adopting major health care projects." He further added, "The enormous healthcare opportunity that exists in the Emirate of Ajman and the role of the private sector in providing quality medical care to the population of the Emirate. UAE attracts the largest healthcare talent pool in the region." He further commented that, "Apart from the local demand there is enormous opportunities for medical tourism in the emirate of Ajman, in particular the United Arab Emirates and the region."

On the signing of the agreement, Mr. Akram Khan, Executive Vice President & Group Head Wholesale Banking at Ajman Bank said, "Ajman Bank is pleased with this agreement with 'Saudi German Hospitals Group' for the establishment of the Saudi German Hospital - Ajman (SGH-Ajman)." He further stated, "The agreement includes providing housing fund for hospital workers and range of items that are in the framework of the agreement between the two parties to provide unique medical services of its kind to the population of Ajman and all aspects related to providing the most advanced and quality health care services."

CPI Financial