Dhaman celebrates start of construction of its first hospital
KUWAIT CITY, Nov 16: Health Assurance Hospitals Company (Dhaman) today celebrated the start of construction for the company’s first hospital, a 300-bed world-class facility located in Ahmadi, with a groundbreaking ceremony held under the patronage of HE Dr Jamal Mansour Al-Harbi, the Kuwait Minister of Health. The Hospital is expected to be completed by the end of 2019 and welcome its first patient in early 2020.
Today’s event paves the way to the introduction of world-class primary and secondary healthcare services in Kuwait, and kicks off the countdown to one of country’s largest IPOs to date.
Dhaman is a public-private-partnership (PPP) established with a paid up capital of KD 115 million, and an authorized capital of KD 230 million. The company is part of the country’s 2035 National Development Plan and is an integral part of Kuwait’s national healthcare strategy. Major shareholders include the Kuwait Investment Authority (24 percent) and a consortium of private investors (26 percent), while the remaining 50 percent will be distributed to the public through a transparent and equal-share distribution process in 2019.
Targeting over KD 200 million in annual revenues by 2020 and over KD 300 million by 2023, the company presents a unique large-scale investment opportunity for the Kuwaiti public to invest in on the one hand, and on the other hand a world-class healthcare offering for over two million expatriate workers in the country.
Dhaman’s services will be available to the expatriate population, while revenue will be generated through a legally-mandated annual insurance fee built into the annual residency fee structure paid by employers of expatriate workers.
Dhaman Hospital in Ahmadi Governorate will be a five-storey, 36,793 square meter hospital offering Secondary Healthcare services, including trauma and rehab centers, diagnostic centers, operating rooms, and laboratories, providing surgery, internal medicine, pediatrics, and accident and emergency services. The hospital will also house 70 outpatient clinics.
“Today marks a milestone day for the healthcare sector in Kuwait as we break ground on our first project, Dhaman Hospital in Ahmadi Governorate” said Dhaman CEO and Board Member Dr. Ahmad Al Saleh. “Introducing Healthcare ... for New Kuwait, Dhaman Hospital is the first step towards meeting the growing healthcare needs of the population and will introduce SMART Healthcare services into the community and expand medical options available to our growing population. We aim to significantly improve Kuwait’s overall medical service level and be the first private healthcare company in the GCC to adopt world class healthcare standards.”
Notable guests of the ceremony included the Minister of Health HE Dr Jamal Mansour Al-Harbi, Dhaman Board Members, and officials from the Ministry of Health, GSSCPD, Dhaman, Arabi Holding Group, and MCC.
The company is currently creating a network of three hospitals offering secondary care geographically spread across Kuwait, the first of which is the Dhaman Hospital in Al-Ahmadi that broke ground today. Project Facts and Figures: Owner: Health Assurance Hospitals Company
Contractor: Metallurgical Corporation of China (MCC)
Consultant(s): Hill International, Arabtech Jardaneh & Al Shuaib, Al Habshi Consultants Office
Design firm(s): MCC, ECADI, Al Shaheen Co
Hospital Area: 85,000 square meters
Number of medical services: 16 Intensive Care Units, 11 Operating Rooms, 2 Cardiac Cath labs Construction period: 2 years Ownership: Kuwait Investment Authority and Public Institution for Social Security 24 percent, Arabi Holding Group 26 percent, allocated to Kuwaiti Nationals 50 percent.
Construction updates will be available at www.newkuwait.gov.kw after April 2018. For more information about Dhaman please visit www.dhaman.co.