Balsm Alofoq leases new Ar Rass branch for 10 years at SAR 2.2M

Logo of Balsm Alofoq Medical Co.

Balsm Alofoq Medical Co. signed, on Nov. 4, a contract to lease premises for a new branch in Ar Rass City, Qassim region, from Suleiman Al-Harbi, a statement said to Tadawul.

The leased property spans 828 square meters and will be used to establish specialized clinics. The lease extends for 10 years, with a total value of SAR 2.16 million, inclusive of value-added tax (VAT).

Annual rent will be SAR 180,000 in the first year; SAR 200,000 annually in years two to four; SAR 220,000 in years five to seven; and SAR 240,000 in years eight to ten.

Balsam Alofoq said the move aligns with its expansion strategy in the Qassim region, aimed at driving operational growth, widening its premium services offering, and achieving targeted returns.

The lease starts on Jan. 1, 2026, with payments to be made annually. The financial impact is expected in the second half of 2026.

The company expects to open the branch and begin operations in the first half of 2026, after completing regulatory licensing.