Fakeeh Care enters SAR 97.3 million land lease deal with Madinah Municipality

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) signed on Dec. 17, a 50-year agreement with the Madinah Municipality to lease a 12,301 square meter land plot in a strategic location in Madinah, according to a statement to Tadawul.

The land plot will be leased for the construction and operation of a medical college and a medical center. The total value of the contract amounts to SAR 97.3 million, excluding value-added tax, representing the aggregate lease value over the 50-year term, including a grace period of two and a half years