Sulaiman Al Habib signs SAR 518.1 mln deal with MASAH Construction

A hospital of Dr. Sulaiman Al Habib Medical Services Group

Dr. Sulaiman Al Habib Medical Services Group’s (HMG) board of directors approved, on Aug.8, the award and signing of a contract by its subsidiary, North of Riyadh for Healthcare Co., with MASAH Construction Co. for glazing, and mechanical, electrical and plumbing (MEP) works at North of Riyadh hospital.

The company said in a bourse statement that the 18-month contract is worth SAR 518.13 million, including value-added tax (VAT).

Board chairman Dr. Sulaiman Abdulaziz Al Habib and board member Hesham Sulaiman Al Habib are related parties with indirect interest.

The contract was concluded within the normal course of business and did not include any preferential benefits.

The contract will be presented to the next general assembly for approval as per the related law.