Sulaiman Al Habib bags SAR 30 mln land lease contract to build, operate hospital in Madinah

21/11/2021 Argaam

Logo of Dr. Sulaiman Al Habib Medical Services Group

Dr. Sulaiman Al Habib Medical Services Group received today, Nov. 21, a letter from Madinah Municipality awarding a lease contract to invest in a land by constructing, operating and maintaining a hospital on the allocated land.

 

The contract value is SAR 30.2 million excluding value-added tax (VAT), which represents the total rental value for 50 years, the company said in a bourse statement.

 

The land, located on King Abdullah bin Abdulaziz Road in Muthainib neighborhood, has a total area of 18,772 square meters.

 

There are no related parties in this deal, the statement said. Any future developments will be announced in due course.

 

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