Miral inks contract to rent new branch in Riyadh for SAR 12.4M

Miral Dental Clinics Co. signed a contract with Ibrahim Saleh Abdullah Al-Hamid to rent a new branch in Riyadh for nine years starting from Feb. 13, 2025, at a total value of SAR 12.4 million (VAT inclusive).

In a statement to Tadawul, the company said that the new dental center spans an area of 500 square meters and is located in Al-Rabie District.

The annual rent for the first three years is SAR 1.2 million. The following three years the annual rent will be SAR 1.37 million, while the last three years’ rental value stands at SAR 1.57 million per year.

This is provided that the rent is paid every six months.

The new center will provide dental medicine, treatment and cosmetic services and is expected to open, after obtaining the necessary licenses to practice, in the first half of 2025.

The financial impact of this contract is anticipated to start during the second half of 2025, the statement added.

The step comes in line with the company's future vision and is in accordance with the expansion plan for Riyadh.