National Learning & Education BOD approves establishing ‎educational complex in 3 cities in Riyadh

National Company for Learning and Education announced the approval of the Board of Directors for the construction projects of Al-Tarbiyah Namouthajiyah Schools Complex (Educational Complex) on land located in Al-Narjis neighborhood, Hittin, and Cordoba, with a total value of 162 million.

The company announced the approval of the Board of Directors on 09/13/1444 AH corresponding to 04/04/2023 AD on the project of constructing the Tarbiyah Namouthajiyah Schools Complex (Educational Complex) on the land located in Al-Narjis neighborhood in the city of Riyadh.

The estimated total area of the building surfaces for the educational complex is 15.3 thousand square meters, with an estimated capacity of 2,000 male and female students, and an estimated cost of 49 million riyals, including construction works, air conditioning, elevators, theatre, furnishing, technical devices and other equipment for the educational complex. The educational complex will be operational starting from the academic year 2024/2025

This investment comes within the company’s strategy to expand and grow the student base in order to achieve the growth and returns that achieve the company’s strategy

The company said in a statement today on “Tadawul” that the project will be financed depending on the company’s own resources and bank facilities.

It added that the construction work of the project is expected to be completed during the fourth quarter of the fiscal year 2023/2024. And that the financial impact of the project begins when the educational complex is operational, starting from the first quarter of the fiscal year 2024/2025.

This comes with reference to the announcement of the National Company for Learning and Education (the company) on 05/20/1444 AH corresponding to 12/14/2022 AD that it had signed a lease contract for a land with an area of 10 thousand square meters for a period of 20 Hijri years in the Narjis neighborhood in the city of Riyadh.

The company also announced the approval of the Board of Directors on 09/13/1444 AH corresponding to 04/04/2023 AD on a project to establish an educational complex belonging to the National Company for Learning and Education (the educational complex) on the land located in the Hittin neighborhood in the city of Riyadh, with an area of The total estimated building area of the educational complex is 20 thousand square meters, with an estimated capacity of 2,000 male and female students, and an estimated cost of 57 million Saudi riyals, including construction works, air conditioning, elevators, theatre, furnishing, technical equipment and other equipment for the educational complex. The educational complex will be operational starting from the academic year 2024/2025

This investment comes within the company’s strategy to expand and grow the student base in order to achieve the growth and returns that achieve the company’s strategy indicating that the project will be financed depending on the company’s own resources and bank facilities.

The construction work of the project is expected to be completed during the fourth quarter of the fiscal year 2023/2024. And that the financial impact of the project begins when operating the educational complex, starting from the first quarter of the fiscal year 2024/2025.

The beginning of the expected impact of the project on the company’s results when operating the educational complex, will be starting from the first quarter of the fiscal year 2024/2025.

The executing party or the other party to the contract or project is the main contractor for the construction and finishing works of the project, Bani Limited Company. Several suppliers will be contracted for furnishing and equipment works for the educational complex later

This comes with reference to the announcement of the National Company for Learning and Education (the company) on 03/17/1444 AH corresponding to 10/13/2022 AD that it had signed a lease contract for a land with an area of 12.6 thousand square meters for a period of 26 years and 6 months in the Hittin neighborhood in the city of Riyadh.

The company also announced the approval of the Board of Directors on 09/13/1444 AH, corresponding to 04/04/2023 AD, on the project of constructing the Tarbiyah Namouthajiyah Schools Complex (Educational Complex) on the land located in the Qurtoba neighborhood in the city of Riyadh.

The estimated total area of the building surfaces for the educational complex is 20.2 thousand square meters, with an estimated capacity of 2,500 male and female students, and an estimated cost of 56 million riyals, including construction works, air conditioning, elevators, theatre, furnishing, technical devices and other equipment for the educational complex. The educational complex will be operational starting from the academic year 2024/2025

This investment comes within 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 the Cordoba district, which is close to reaching its capacity and serves kindergarten and elementary stages only.

The company stated that the project will be financed based on the company’s own resources and bank facilities.

The construction work of the project is expected to be completed during the fourth quarter of the fiscal year 2023/2024. And that the financial impact of the project begins when operating the educational complex, starting from the first quarter of the fiscal year 2024/2025.

The executing agency or the other party to the contract or project, the main contractor for the construction and finishing works of the project, is Legend Projects Contracting Company. Several suppliers will be contracted for furnishing and equipment works for the educational complex later

This comes with reference to the announcement of the National Company for Learning and Education (the company) on 02/10/1444 AH corresponding to 09/6/2022 AD that it had signed a lease contract for a land of 13.2 thousand square meters for a period of 27 years in the Qurtoba neighborhood in the city of Riyadh.