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Mouwasat Medical Services Co. Announces Expansion of Mouwasat Hospital in Riyadh

4002
MOUWASAT
-0.21 %
1447/03/09     01/09/2025 15:59:24

Element ListExplanation
Introduction Mouwasat Medical Services Co. announces that its board of directors, which met on Monday, 03 Rabi Al-Awwal 1447 corresponding to 01 September 2025, has approved the expansion project of Mouwasat Hospital Riyadh by adding new building with a capacity of 100 adjacent to the existing hospital at a total cost of 330 million riyals.
Date of Board Resolution in Regard to the Project 2025-09-01 Corresponding to 1447-03-09
Project Start Date First Quarter of 2026 after obtaining the necessary regulatory approvals
Project Cost SAR 330 Million
Financing method for the project The project will be self-financed and financed by local banks with long-term Shariah-compliant loans.
Expected completion date of the project Fourth Quarter of 2028
Expected Financial Impact of the Project on the Company’s Results The financial impact and any other material developments related to the project will be disclosed later
The Start of the Expected Impact of the Project on the Company’s Results The financial impact is expected to start with the results of the second quarter of 2029.
Expected Date for the Pilot Production of the Project to Begin First Quarter of 2029
Duration of the pilot production of the project Three months
Expected date for the commercial production of the project The second quarter of 2029 after obtaining the necessary regulatory approvals and the approval of the Ministry of Health
Executing Party/Counter Party in the Project/Contract Determination to be made later
Related Parties No Related Parties
Additional Information Any material developments will be announced later

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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