RED House Group and Rizk Healthcare to develop a $1.35 B Hospitals network project in Saudi Arabia

RED House Group and Rizk Healthcare today announced that they have forged an exclusive partnership within the formation RRHH – Rizk RED House Healthcare.

Under the deal, RED House, a leading Real Estates Investment and Development Group operating in the MENA region, handed RRHH a $1.35 b project consisting of the development of a Chain of 10 specialized hospitals totaling over 3,000 beds spread over Saudi Arabia and joined with Ebram a major Saudi Investment and Healthcare firm.

Rizk Healthcare, a prominent healthcare developer and operator with a track record that goes for over 85 years, envisages pursuing its legacy with a wide-ranging plan of developing healthcare institutions over the MENA region.

H.E. Dr. Assad Rizk, RRHH Chairman, declared that within the partnership with RED House, Rizk Healthcare anticipates a greater role on the healthcare platform in the region. He expressed his gladness for promoting “Rizk Healthcare” to an advanced regional position.

Mr. Mazen Beaini,¬†RED House Group¬†Chairman affirmed RED House contentment of the partnership with “Rizk Healthcare” especially with the great potentials of the Healthcare Sector in the MENA region. Mr. Beaini asserted that ensuring the regional growth RRHH is conceived to proceed as one of the major players in the healthcare development and operation sectors regionally.

“Today’s announcement of our partnership with RED House is a great example of how we continue to invest in the healthcare industry and of our commitment to provide healthcare services not only in Lebanon but also on the regional platform” said Mr. Sami Rizk, RRHH CEO.

RRHH shall be headquartered in Beirut Central District that would cater for its regional operation in addition to its branch in Riyadh KSA. A signing ceremony is planned in February 2012.


Article by Links Group on Dec 10th 2011
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