Care buys land plot in Riyadh for SAR 167.6 mln to build hospital

30/06/2022 Argaam

Logo of National Medical Care Co.

National Medical Care Co. (Care) signed on June 27 an agreement to buy a land plot in Narjis neighborhood, Riyadh, for a total value of SAR 167.58 million, exclusive of the real estate transaction tax.

 

The land spans a total area of 39,899 square meters, Care said in a statement to Tadawul.

 

The company will finance the land purchase from its internal resources to build a new hospital and support Care’s strategic plans for expansion.

 

The deal will boost the company’s assets.

 

There is currently no expected financial impact, and any developments will be disclosed later, Care concluded.

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