Almouasah Company for medical services announces the obtaining of a long term loan from the ministry of finance for 106,073,000 SR:

Almouasah Company for medical services announces the signing of a long term loan contract with the ministry of finance as follows:

1- the financing contract has been signed on 19/9/2013

2- the financing amount is 106,073,000 SR

3- The duration period of the funding extends from 19/9/2013 to 20/12/2037

4- The company aims by this funding to finance the construction of Almouasah hospital in Riyadh and the residential compound attached to it in Granada neighborhood

5- The funding has been obtained in return for a piece of land mortgage plot No.15/ 36017, dated 28/5/1427 on which the hospital buildings exist in favor of the Ministry of Finance beside the bank guarantee amounting to SAR 10.111.000 issued by BSF.

6- The loan will be repaid on 20 equal annual installments after a grace period of 5 years and this to finance the project of the company's hospital and the attached residential compound- in Riyadh Granada, for which the construction work started in 2009 and the building area amounts to 47000 m2 built on a land area of 21685 m2 with an operating capacity of 175 beds and 65 outpatient clinics. It is expected that the construction work will be finished by the end of 2013 and the hospital will start operation during the first half of the year 2014