Al-Modawat awards SAR 3M project with municipal affairs ministry

Logo of Al-Modawat Specialized Medical Co.

Al-Modawat Specialized Medical Co. received, on July 1, a letter awarding the project to establish and operate a medical complex in Al Majaridah Governorate with the Ministry of Municipal, Rural Affairs and Housing.

According to a statement on Tadawul, the project is estimated at SAR 3 million.

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The project involves leasing a site of 1,965 square meters (sqm) for the purpose of establishing, managing and operating a medical complex for a period of 23 years.

The contract is projected to have a positive impact on the company's financial results upon the project’s completion and operation.

The statement indicated that the contract is expected to be signed today, July 2, noting that there are no related parties.