Miral amends new Riyadh branch’s lease agreement

Logo of Miral Dental Clinics Co.

Miral Dental Clinics Co. announced today, June 3, an amendment to its lease agreement with Abdulrahman Mohammed Al-Ateeq Real Estate Office.

The amendments include changing the lease start date to Sept. 10, 2026, from June 1, 2025, while retaining the 10-year term.

In a Tadawul filing, the company said the total contract value was reduced to SAR 17.25 million, including VAT, from SAR 18.4 million. Annual rent was also lowered to SAR 1.73 million from SAR 1.84 million, including VAT.

Miral said it had already paid the first year’s rent under the original agreement. The amount will be applied to the revised lease, with any remaining balance carried forward to the following year. Rent will then be paid annually.

The company attributed the amendment to the lessor’s inability to deliver the premises on time due to unmet contractual requirements, including municipal licensing conditions.

Miral expects the lease to start impacting financial results in Q3 2026, when the branch begins operations. It added that no related parties are involved and said it will disclose any further developments on time.

According to Argaam data, Miral signed the lease in November 2024 for a new Riyadh branch to operate a dental treatment and cosmetic dentistry center, with a total value of SAR 18.4 million, including VAT.