National Company for Learning & Education signs land lease ‎deal in Riyadh for SR49 mln ‎

National Company for Learning & Education announces signing a land lease contract in Qurtubah district-Riyadh with Abdullatif Al-Alshikh and Fahad Almusharef to construct and operate Tarbyh Namouthajiyah schools complex.

This investment is part of the company’s strategy to expand and grow the student base through the establishment of an educational complex that complements the services of the company’s current school in Qurtubah district, which is close to reaching its capacity and offers kindergarten and primary stages only.

The Lease of land in Qurtubah district-Riyadh with an area of (13,200 m2) aims to construct an educational complex for a period of 27 years.

This contract shall be considered void if the licenses to benefit from the land as an educational complex by the concerned authorities are not obtained within a period of 6 months from the date of signing the contract.

Contract Duration:

Twenty-seven (27) years starting from the issuance date of the licenses to benefit from the land as an educational complex by the concerned authorities.

The contract duration includes a two-year grace period that does not entail any rental value.

The financial impact of this contract is expected to start upon the completion and operation of the project.