Articles > Miral Medical Clinics Amends Lease Agreement for Riyadh Dental Branch
Miral Medical Clinics Amends Lease Agreement for Riyadh Dental Branch
By KlickAnalytics Data Insights | June 4, 2026 05:04AM ET
- Miral Medical Clinics Company reveals changes to a lease deal for its upcoming dental branch in Riyadh
- Amendments include a delayed contract start date, reduced rental value, and revised financial impact timeline
- Facility located in Al Arid district of Riyadh to house specialized dental center
In a recent disclosure to the bourse, Miral Medical Clinics Company announced significant modifications to a lease agreement for its upcoming dental branch in Riyadh, building on an initial announcement made in November 2024. The updates include a postponed contract commencement date, a decrease in total rental value, and a revised timeline for the branch’s financial impact on the company's accounts.
Located in the Al Arid district of Riyadh on Prince Khalid bin Bandar bin Abdulaziz Road, the new facility will cover 881.25 square meters and serve as a specialized dental center offering various dentistry services. The company finalized an amendment to the contract with Abdulrahman Mohammed Al Ateeq Real Estate Office on 3 June 2026, rescheduling the official lease start date to 10 September 2026 from the originally set date of 1 June 2025.
Due to the lessor’s failure to deliver the premises on time and meet contractual obligations, the commencement was delayed. As a result, the total value of the 10-year lease has been reduced to SAR 17.25 million, down from SAR 18.40 million, with an annual rental obligation now at SAR 1.72 million including VAT, a decrease from SAR 1.84 million annually.
Miral Medical Clinics has already paid the first year's rent under the previous agreement, which will now apply to the first year of the new contract term starting in September 2026. The company expects the financial impact of this lease and the branch's operations to become apparent in the third quarter of 2026, coinciding with the start of operations. Furthermore, the company assures that the agreement does not involve related parties and remains committed to disclosing any future material developments related to the project. This Riyadh expansion plays a crucial role in the company’s growth strategy within the healthcare sector of the capital city.
- Amendments include a delayed contract start date, reduced rental value, and revised financial impact timeline
- Facility located in Al Arid district of Riyadh to house specialized dental center
In a recent disclosure to the bourse, Miral Medical Clinics Company announced significant modifications to a lease agreement for its upcoming dental branch in Riyadh, building on an initial announcement made in November 2024. The updates include a postponed contract commencement date, a decrease in total rental value, and a revised timeline for the branch’s financial impact on the company's accounts.
Located in the Al Arid district of Riyadh on Prince Khalid bin Bandar bin Abdulaziz Road, the new facility will cover 881.25 square meters and serve as a specialized dental center offering various dentistry services. The company finalized an amendment to the contract with Abdulrahman Mohammed Al Ateeq Real Estate Office on 3 June 2026, rescheduling the official lease start date to 10 September 2026 from the originally set date of 1 June 2025.
Due to the lessor’s failure to deliver the premises on time and meet contractual obligations, the commencement was delayed. As a result, the total value of the 10-year lease has been reduced to SAR 17.25 million, down from SAR 18.40 million, with an annual rental obligation now at SAR 1.72 million including VAT, a decrease from SAR 1.84 million annually.
Miral Medical Clinics has already paid the first year's rent under the previous agreement, which will now apply to the first year of the new contract term starting in September 2026. The company expects the financial impact of this lease and the branch's operations to become apparent in the third quarter of 2026, coinciding with the start of operations. Furthermore, the company assures that the agreement does not involve related parties and remains committed to disclosing any future material developments related to the project. This Riyadh expansion plays a crucial role in the company’s growth strategy within the healthcare sector of the capital city.
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