Canadian Medical Center signs 2 contracts with Khayrat Amariya Real Estate

Logo of Canadian Medical Center Co. (CMCER)

Canadian Medical Center Co. signed a contract worth SAR 1.85 million with Khayrat Amariya Real Estate Co., to prepare the building as a head office for the company and for the board of directors and its secretariat, which is located in Al Ammar Avenue Complex, according to a statement to Tadawul.

The contact is to prepare the building to be the head office of the company, said the company, adding that there will be no related financial impact.

In a separate statement to Tadawul, Canadian Medical Center announced it signed a contract with Khayrat Amariya Real Estate to rent a building as a head office for the company and for the board of directors and its secretariat in the Eastern province for three years, on an area of 936 square meters, with an annual rental value of SAR 1.029 million, and a total value of SAR 3.088 million, which is located in the Al Ammar Avenue Complex.

The company also noted that Chairman Khalid bin Mohammed Al Ammar has an indirect interest in this contract he is the Chairman of Khayrat Amariya Real Estate.

The company also confirmed that the contracts were concluded within the normal course of business and did not include any preferential benefits.