Dallah Healthcare inks deal to build hospital in Jeddah

13/04/2017 Argaam

Dallah Healthcare Co. on April 12 signed a non-binding agreement with AWJ Investment Co. to set up a company to build and operate a general hospital in Jeddah after obtaining the required approvals and licenses, the healthcare company said in a statement to Tadawul Thursday.

 

Under the agreement, the company’s capital will consist of cash and in-kind shares represented in a 150,000 square meter land in Manar district, North East Jeddah.

 

The deal does not involve any related parties, the statement said.

 

AWJ Investment in this agreement replaces Shibh AlJazira Real Estate Development Co, which signed on May 25, 2016 a memorandum of understanding (MoU) on the same deal with Dallah Healthcare. 

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