NCLE Signs SAR 2.5 Mln Annual Land Lease in Riyadh

The National Company for Learning & Education (NCLE) announced on Sunday the signing of a land lease agreement with Tatweer Buildings Company for a site in Dhahrat Laban district- Riyadh. The land will be used to construct and operate an educational complex affiliated with the NCLE.

In a statement on the Saudi Stock Exchange (Tadawul), the NCLE stated the contract is valued at SAR 2.54 million annually, with a 10% increase every five years. The total rental value over the full contract term will reach SAR 68.7 million, excluding Value-Added Tax (VAT).

The contract has a 24-year duration, beginning from the signing date, and includes a two-year grace period during which no rent will be due.