Element List	Explanation
Introduction	Balsm Alofoq Medical Co announces the lease of premises for a new branch in Al-Qassim - Ar-Rass, in the Al-Rawabi neighborhood on Al-Juraif Street. The premises, measuring 828 square meters, will house specialized clinics as a new branch of the company, providing medical services for a period of ten years, commencing on January 1, 2026. The total lease value is SAR 2,160,000, inclusive of VAT. The annual rent is as follows: SAR 180,000 for the first year, SAR 200,000 for the second through fourth years, SAR 220,000 for the fifth through seventh years, and SAR 240,000 for the eighth through final year, inclusive of VAT. This initiative aligns with the company's future vision and expansion plan within Al-Qassim - Ar-Rass, Saudi Arabia, aiming to achieve the desired growth in its operations, provide its distinguished services to a wider audience across the Kingdom, and realize the company's targeted returns.
Date of Announcement of the Award	2025-11-03 Corresponding to 1447-05-12
Contract Subject Matter	Signing a contract to lease premises for a new branch of the company in Al-Qassim - Ar-Rass city to establish specialized clinics
The Entity with Which the Contract was Signed	Sulaiman Abdullah Sulaiman Al-Harbi
Date of Signing the Contract	2025-11-03 Corresponding to 1447-05-12
Contract Value	2,160,000
Contract Details	The company is leasing premises for a new branch in Al-Qassim - Ar-Rass, Al-Rawabi District, Al-Juraif Street, with an area of ​​(828 m2), to establish specialized clinics as a new branch of the company to provide medical services for a period of (10) years starting from 01/01/2026 AD, at a total value of (2,160,000) Saudi Riyals inclusive of VAT, with a rental value of (180,000) Saudi Riyals for the first year, (200,000) Saudi Riyals annually for the second through fourth years, (220,000) Saudi Riyals annually for the fifth through seventh years, and (240,000) Saudi Riyals annually for the eighth through final year inclusive of VAT. The rental value is to be paid annually.
Contract Duration	10 years
Financial Impact and the Relevant Period	The financial impact of this contract is expected to begin during the second half of 2026.
Related Parties	Not applicable
Additional Information	The branch is expected to open and begin operations after obtaining the necessary licenses to conduct business in the first half of 2026.