Sulaiman Al Habib leases SAR 32.5 mln land plot in Tabuk for 50 years to set up hospital

05/01/2022 Argaam
One of Dr. Sulaiman Al Habib Medical Services Group hospitals

One of Dr. Sulaiman Al Habib Medical Services Group hospitals

Dr. Sulaiman Al Habib Medical Services Group received, on Jan. 4, a notification from Tabuk Municipality on awarding it a lease contract to build, operate and maintain a hospital on the land located on King Faisal Road, Tabuk city. 

 

The company said in a bourse statement that the value of the contract is SAR 32.5 million, excluding value-added tax (VAT), representing the total rental value for 50 years.  

 

Under this agreement, Tabuk Municipality leased to the company the land plot spanning 58,662 square meters in Al Morooj Al Thani District. 

 

The company will announce any future developments in this regard in accordance with applicable regulations.  

 

There are no related parties to the deal, the statement added.  

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