The National Company for Learning & Education (NCLE) (4291) signed lease contracts for two educational complexes in Riyadh.
The Deets
The company stated that the contract for the first complex, located in Al Aarid neighborhood, will reach SAR 8.3 million annually, while the value of the contract for the second complex in the Kairouan district will reach SAR 5.8 million annually.
The company also indicated that the duration of the two contracts is 20 years, starting August 27, 2023, 10 years that are binding while the other 10 have the option of non-renewal.
NCLE
NCLE has large educational complexes, accommodating more than 15,000 students.
These complexes include all educational levels, in addition to students of the International Education Program.
What Now
The two educational complexes will be operational, starting from the 2023/2024 academic year.
Why this Matters
NCLE expects the financial impact of these two contracts to start from Q1 of the company’s fiscal year, which will end on August 31, 2024.
These two investments are part of its strategy to expand and grow the student base in order to achieve growth and returns.
