Academy of Learning Signs Contract to Purchase Educational Complex in Al-Khobar

Academy of Learning Company announced on Sunday the signing of an MOU with HE Dr. Abdulrahman Bin Salim Al-Mantakh to purchase his school complex located in the Aziziya neighborhood of Al-Khobar city. This aligns with the company’s vision to invest in foreign and private schools in the kingdom.

The duration of the memorandum is 90 days, extendable with the approval of both parties.

According to the company, the MOU aims to establish the foundations of the final sales agreement and define the mutual rights and obligations of both parties, ensuring implementation according to their agreed suggestions and understandings.

The completion of the sale is contingent upon:

1. Completing due diligence studies to verify the legal and financial status of the second party with satisfactory results for the first party.
2. Obtaining the necessary approvals from the relevant regulatory authorities to complete the sale and related matters.
3. Fulfilling the internal requirements of the first party.