Balsm Alofoq buys land in Buraidah for SAR 2.5M to establish medical center

09:09 AM (Mecca time) Argaam
Logo ofBalsm Alofoq Medical Co.

Logo of Balsm Alofoq Medical Co.

Balsm Alofoq Medical Co. purchased a 1,075 square meter land plot in Buraidah for SAR 2.5 million (excluding real estate transaction tax). The land will be used to establish a medical center as part of the company’s efforts to diversify revenue streams and grow its asset base.

 

In a statement to Tadawul, Balsm Alofoq pointed out the move aligns with its future vision and expansion strategy, and supports its targeted operational growth.

 

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The healthcare provider confirmed its commitment to pay the applicable real estate transaction tax and the broker’s commission, noting that the deal will be financed through internal resources.

 

The transaction was executed through Al-Ghunaim Office, with the brokerage fee amounting to SAR 61,800. The sellers are Dania Al-Shibl, Dalia Al-Shibl, Sarah Al-Shibl, Dana Al-Shibl, and Rania Al-Shibl.

 

The company expects the deal to contribute to an increase in asset value and support business expansion. It also confirmed that there are no related parties involved in the transaction.

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