Basma Adeem inks SAR 10.5M lease deal for Riyadh clinic

Logo of Basma Adeem Medical Co. (Smile Care)

Basma Adeem Medical Co. (Smile Care) signed, on Jan. 22, a lease agreement with Al-Ayed Industrial Co., at a value of SRA 10.5 million (excluding VAT).

In a statement to Tadawul, the company said that the agreement is for the lease of Smile Care's fourth location for Smile Care Clinic in Riyadh, in the Al-Narjis neighborhood, for the purpose of establishing a dental clinic center.

It noted that the lease term is 10 years, starting from May 26, 2026.

According to the statement, the company's expansion into its branches and medical clinics aims to reach a larger segment of customers in different locations and meet the growing demand for healthcare services.

The company expects this to be reflected in the growth of its business and the enhancement of its financial performance, thus supporting its goals and aspirations.

The related financial impact is expected to appear in Q4 2026, said the company. It noted that there are no related parties involved.