Dr. Sulaiman Al Habib inks $8mln land lease contract to build hospital

50-year contract signed

  
Image used for illustrative purpose. Portable hospital bed in hallway.

Image used for illustrative purpose. Portable hospital bed in hallway.

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Riyadh – Mubasher: Dr. Sulaiman Al Habib Medical Services Group has signed a 50-year contract worth SAR 30.19 million with Al-Madinah Al-Munawwarah Municipality to lease a plot of land.

The company seeks to construct, operate, and maintain a hospital on the allocated land, spanning over a total area of 18,772 square metres, according to a bourse filing on Thursday.

The land is located on King Abdullah bin Abdulaziz Road in Mitan region in Al-Madinah Al-Munawwara.

The financial impact of the contract is expected to be registered upon the project’s completion and operation.

Source: Mubasher

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