- The Kingdom Health project is the first project in health sector by SJIC, wholly owned subsidiary of PIF, the sovereign wealth fund of Saudi Arabia
- The project will be implemented in partnership with the prestigious global institutions, UCL Medical School and UCLA health
Amman, October 12, 2023 – Deputizing for Prime Minister Dr. Bisher Khasawneh, Deputy Prime Minister for Economic Affairs and Minister of State for Public Sector Modernization Nasser Shraideh, on Thursday, laid the foundation stone for the Kingdom Health project. The project is the first in the healthcare sector by the Saudi Jordanian Investment Company (SJIC), a wholly-owned subsidiary of the Public Investment Fund (PIF).
The ceremony to launch construction works for the $400-million investment project was held in the Hashemite Kingdom of Jordan at the construction site near Ghamadan, south of Amman, and was attended by several ministers and high-ranking officials, as well as the ambassadors of the Kingdom of Saudi Arabia, and the United Kingdom.
The Kingdom Health project will be implemented in collaboration with two of the most prestigious global institutions in the fields of healthcare and medical education; University College London (UCL) Medical School, and UCLA Health, in Los Angeles.
The healthcare project comprises the Kingdom University of Health Sciences, a university with a total capacity for 600 students and an annual intake of 100 students – and the Kingdom University Hospital, a 330-bed hospital with 72 outpatient clinics and a dedicated children’s hospital.
The project will also include five medical centers of excellence, focused on providing expertise around the most common and fastest-growing non-communicable diseases in Jordan and the wider region, including cardiology, oncology, neurology, gastroenterology, and orthopedics. The venture will also have a focus on driving advanced medical research through establishing four research centers in the fields of genomics and precision medicine, stem cells and regenerative medicine, health systems and public health, and bioinformatics. 7.5% of the hospital’s revenues will be dedicated to scientific research and development.
In his speech during the ceremony, SJIC Chairman Abdulmajeed A. Al-Hagbani said “We’re delighted that we laid the foundation stone for the Kingdom Health project today, which is an impactful investment that aims to enhance the position of Jordan and the region in the scientific and medical fields. We value the efforts of the Jordanian government in providing support and facilitating the implementation of the Kingdom Health”, adding “the company will follow a thorough plan to implement the project with the highest levels of quality.”
Al-Hagbani added: “The project will contribute to developing and strengthening the company’s investment partnerships, creating long-term and sustainable returns, in addition to boosting investment opportunities with various sectors in Jordan and the region.”
The CEO of the Kingdom Health, Dr. Mahmoud Sarhan, said: “This new scientific and medical landmark will provide high-quality healthcare services and medical education following the highest international standards, under its mission to become a leading center in the region that will contribute to boosting the quality of healthcare and scientific research on a regional level”.
The project’s built-up area is estimated at 110,000 square meters. It is expected to create hundreds of job opportunities in various scientific and medical fields.
The project seeks to enrich medical and academic knowledge and expertise, contributing to improving the quality of healthcare and medical education, and stimulating medical tourism, in addition to providing access to the highest level of medical education aimed at inspiring a new generation of doctors, researchers and future leaders in medicine.