Naba Alsaha inks contracts worth $1.2mln

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Naba Alsaha Medical Services Company signed two agreements at a combined value of SAR 4.56 million on 15 October 2022, according to bourse disclosures.

Under the SAR 4.50 million contract, the firm will handle the multiple works for the second phase of Naba AlSaha Hospital project in Riyadh with Salalam Al Jazeera Building and Contracting Company.

Naba Alsaha forecast that the project will reflect on its financial results once it commences operating in 2026. The contract holds a six-month duration period.

Furthermore, Naba Alsaha sealed a deal worth SAR 60,000 with Tafani Financial Consulting Office, owned by Firas bin Jamil bin Abdullah Al Jishi, that covers the submission of a feasibility study that could be eligible for a loan from the Enterprise Support Fund.

The agreement is projected to have a positive financial impact on the Tadawul-listed company's revenues, as it will quicken the construction process of Naba AlSaha Hospital in the Al Mounsiyah district.

Last September, Naba Alsaha began trading its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) after it had obtained the Capital Market Authority’s (CMA) approval to list 1.40 million shares, equivalent to 20% of the share capital.