Care signs SAR 392M contract for hospital works in Al Narjis district

National Medical Care Co. (Care) signed today, Dec. 21, a contract with BEC Arabia Contracting Co. to execute mechanical, electrical, and plumbing (MEP) works, as well as finishing works, for the first phase of the Care Medical Hospital project in the Al-Narjis district, Riyadh.

In a statement to Tadawul, the company said that the 548-day contract’s value amounts to SAR 392 million, excluding value-added tax.

Care noted that the financial impact of the contract will appear through an increase in the non-current assets item in its financial statements starting from the first quarter of 2026.

There are no related parties to the deal, the statement added.

Care added that it will announce any further material developments related to the project in due course.

According to data available on Argaam, Care signed a contract in June 2022 to purchase land to build a hospital in the Al-Narjis district, Riyadh.

Last February, the company signed a contract for the construction of the first phase of the 200-bed hospital, valued at SAR 91.76 million.