Care signs SAR 91.8M structural framework contract for new hospital

16/02/2025 Argaam
Logo ofNational Medical Care Co. (Care)

Logo of National Medical Care Co. (Care)

National Medical Care Co. (Care) signed on Feb. 13 a 12-month contract worth of SAR 91.76 million with Construction Land for Contracting Co.

 

In a statement to Tadawul, Care pointed out that the contract aims to implement the structural framework for the first phase of the new Care Medical Hospital in Al-Narjis neighbourhood, Riyadh with a capacity of 200 beds.

 

For more news and details on the projects

 

A financial impact of the contract is expected to reflect by an increase in non-current assets starting from the second quarter of 2025, the statement said, indicating that there are no related parties to the deal.

 

Any other material developments related to the project will be disclosed in due course, the company said.

 

According to data available with Argaam, Care signed in July 2022 an agreement to buy a land plot in Al-Narjis neighbourhood, Riyadh, for SAR 167.58 million, to build a new hospital and support Care’s strategic plans for expansion.

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