Horizon Educational Company announced on Sunday, February 16, the signing of a contract with Saleh Abdul Aziz Alghanim General Contracting Company for the finishing works of its new educational complex in Dhahret Laban district, valued at SAR 15.5 million.
The company stated that the contract is set to conclude by June 30, 2025, with the educational complex expected to commence operations in the 2025/2026 academic year. The financial impact of the project will be reflected in the company’s financial results for the 2025/2026 fiscal year.
It is noteworthy that the contracted company had previously carried out the concrete and structural works for the project. However, this contract does not include furniture, office, school, or technological equipment.
In addition, Horizon Educational has signed a separate contract with Al-Mawso’a Al-Raqmiyya Trading Company to procure office and school equipment for the complex at a value of SAR 1.1 million. The company confirmed that the final supply will be completed before June 1, 2025, ensuring the facility’s readiness for the upcoming academic year. The financial impact of this contract is also expected to reflect in the 2025/2026 financial results.
Horizon Educational emphasized that both contracts fall within the company’s regular business operations and do not include any preferential advantages.
It is worth noting that Mr. Ahmed Abdullah Al-Kanhal, Vice Chairman of the Board, is classified as a related party.
