National Company for Learning & Education announces receiving a notification of award from Tatweer Building Company in relation to a lease contract to invest a land in Al-Narjis district - Riyadh
| Element List | Explanation |
|---|---|
| Introduction | National Company for Learning & Education (NCLE) announces receiving a notification of award from Tatweer Building Company in relation to a land lease contract in Al-Narjis district – Riyadh, for the purpose of constructing and operating an educational complex for NCLE under the name of Tarbyh Namouthajiyah schools.
This investment is part of the company's strategy to expand and grow the student base in order to generate the growth and returns that achieve the company's strategy. |
| Date of the Award | 2022-11-17 Corresponding to 1444-04-23 |
| Contract Value | An amount of SR 2.15 million annually, with an annual increase of 4%, starting from the eleventh year.
The total value of the contract over its period is SR 44 million (excluding VAT). |
| Contract Details | Lease of land in Al-Narjis district - Riyadh with an area of (9,991 m2) to construct and operate an educational complex, for a period of 20 Hijri years from the date of signing the contract. The contract duration includes two years grace period that does not entail any rental value. |
| Related Parties | There are no related parties |
| Additional Information | The company will announce any material developments related to signing the lease contract and the project in due course. |
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