Al-Modawat contracts Municipalities Ministry to build, operate medical complex

01/09/2024 Argaam
Logo ofAl-Modawat Specialized Medical Co.

Logo of Al-Modawat Specialized Medical Co.

Al-Modawat Specialized Medical Co. signed a real estate investment contract with the Ministry of Municipalities and Housing to establish and operate a medical complex.
 
In a statement to Tadawul, the company said the 25-year contract entails an annual rent of SAR 121,000.
 
 

 

The deal is to lease a site spanning 9,207 square meters in Mahayel Asir for the purpose of managing and operating a medical complex.

 

The contract is expected to have a positive impact on increasing the number of patients and improving the financial results upon the project's completion and operation, the statement said.

 

The contract, having no related parties, was awarded on Aug. 29, 2024, and signed online on Aug. 31.

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