Academy of Learning Co. Announces Contract Sign Off with Mr. Mohammed Saud Saad Al-Arefe for renting a campus for its operations in Riyadh city
| Element List | Explanation |
|---|---|
| Introduction | Academy of Learning Company announces renting a campus for its operations in the city of Riyadh in As Suwaidi, Western Ring Branch Rd, with an area of (3080 m2), to establish a higher training institute for the Academy from Mr. Mohammed Saud Saad Al-Arefe, for (10) years, With a total value of (20,000,000) Saudi riyals and an annual rental value of (2,000,000) Saudi riyals, the capacity of the building will be (900) students.
Thus, this will be the second Academy of Learning branch for men in the Kingdom and the first for men in Riyadh City. This comes in line with the expansion plans of the Academy of Learning, and as a support of the Saudization plans for jobs in the Kingdom of Saudi Arabia. |
| Date of Announcement of the Award | 2024-07-04 Corresponding to 1445-12-28 |
| Contract Subject Matter | Renting a building in As Suwaidi, Western Ring Branch Rd, Riyadh City |
| The Entity with Which the Contract was Signed | Mr. Mohammed Saud Saad Al-Arefe |
| Date of Signing the Contract | 2024-07-04 Corresponding to 1445-12-28 |
| Contract Value | 20,000,000 Saudi riyals |
| Contract Details | Renting a building in As Suwaidi, Western Ring Branch Rd, Riyadh City for a period of (10) years, With a total value of (20,000,000) Saudi riyals |
| Contract Duration | 10 years |
| Financial Impact and the Relevant Period | The financial impact of this contract is expected to begin during the second half of 2024 |
| Related Parties | Do not apply |
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