Riyadh – Mubasher: Dr. Sulaiman Al Habib Medical Services Group has inked, on 5 January, a 50-year contract worth SAR 32.5 million, excluding the value-added tax (VAT) with Tabuk Municipality to lease a land plot owned by the latter in Tabuk.
The Saudi listed company will use the 58,662-square-metre land to develop, operate, and maintain the hospital, which will include various departments through which integrated healthcare services will be provided, according to a bourse filing on Thursday.
Dr. Sulaiman Al Habib will commence construction of the hospital after getting the required approvals and licences.
The contract’s financial impact is forecast to reflect on the income statements after fulfilling the construction process and operation.
It is worth noting that in November 2021, Dr. Sulaiman Al Habib signed a lease contract worth SAR 30.19 million with Al Madinah Al Munawwarah Municipality to lease a plot of land to construct, operate, and maintain a hospital.
