Dallah Healthcare services company signed a memorandum of understanding (MoU) on 24 May 2016 with Shibh AlJazira Real Estate Development Company  to establish a  company for the purpose of developing and operating a general hospital in Jeddah, after receiving the necessary  licences and approval. The company’s capital will comprise of cash and in-kind shares represented by c150,000 sqm land in the Manar district in north east Jeddah, where both parties will decide on the ownership stakes after evaluating the in-kind shares, which will be followed by an announcement of the company’s capital and the investment cost of the project.  The MoU is valid for a single year from its signature date, which is renewable upon the agreement of both parties. The MoU doesn’t include any related parties.   Dallah Healthcare: SAR82.91 as of 24 May 2016, Rating: Buy, FV: SAR90.00/share, MCap: USD1,304 mn, DALLAH AB / 4004.SE