| Element List | Explanation |
|---|---|
| Introduction | In reference to the announcement of Dr. Sulaiman Al Habib Medical Services Group Company (the “Company”) published on Tadawul website on 26 Shawwal 1444H corresponding to 16 May 2023 regarding the signing of a conditional investment agreement between the Company and the Royal Commission for Jubail and Yanbu (“the Commission”) regarding the lease of the land by the Commission to the Company, located in Al-Dafi district, Southern Al-Farouq Block, Jubail Industrial City, with a total area of (115,482.9) square meters for a period of (50) Hijri years, to be invested in the establishment, operation and maintenance of a hospital on the allocated land (“Al-Jubail Hospital” and/or “the Project”); the Company hereby announces the approval of the Board of Directors, at its meeting held on Sunday, 09 Safar 1447H corresponding to 03 August 2025, of Al-Jubail Hospital Project through Bawabat Al Sharq for Healthcare Company (a subsidiary company owned 100% by the Company and was established for the Project). Al-Jubail Hospital will be an integrated hospital to provide healthcare services; it will have clinics in various medical specialties and a capacity of (145) beds. |
| Date of Board Resolution in Regard to the Project | 2025-08-03 Corresponding to 1447-02-09 |
| Project Start Date | It is expected that the construction of the Project will begin during the fourth quarter of 2025, after obtaining the necessary regulatory approvals from the relevant authorities. |
| Project Cost | The total estimated cost of the Project is SAR 571 million. |
| Financing method for the project | The Project will be funded by the Company’s internal resources and by long-term Sharia-compliant loans from local banks. |
| Expected completion date of the project | It is expected that the construction works of the Project will be completed during the fourth quarter of 2028 and thereafter, the testing and commissioning works for the operational requirements of the Project will be started and completed in the first quarter of 2029 |
| Expected Financial Impact of the Project on the Company’s Results | It is expected that the Project will have an impact on the Company’s financial results when it starts operating during the second quarter of 2029. |
| The Start of the Expected Impact of the Project on the Company’s Results | The Project’s impact on the Company’s results is expected to begin when the Project is operational during the second quarter of 2029. |
| Expected Date for the Pilot Production of the Project to Begin | Not applicable |
| Duration of the pilot production of the project | Not applicable |
| Expected date for the commercial production of the project | The Company expects the Project to start operating during the second quarter of 2029, after obtaining the necessary regulatory approvals from the relevant authorities. |
| Executing Party/Counter Party in the Project/Contract | As of this date, no contract has been signed with any contractor for the Project, contracts for the execution of the Project works will be entered into with several specialized contractors and suppliers, after obtaining the necessary regulatory approvals from the relevant authorities. |
| Related Parties | There are no related parties. |
| Additional Information | Any other material developments related to this Project will be disclosed in a timely manner in accordance with the relevant regulations. |
