NCLE buys SAR 39.4m land in Riyadh’s Al Yasmin for school complex

NCLE says the deal will likely contribute to revenue once project is complete

The National Company for Learning and Education (NCLE) announced the purchase of a land plot in Al Yasmin district in Riyadh through an online public auction supervised by the Entrustment and Liquidation Center (Infath), with a total value of SAR 39.4 million, including real estate transaction tax.

NCLE is finalizing the ownership transfer procedures for the land that spans 11,040 square meters, according to a statement on Tadawul.

The transaction will be financed through internal resources and bank facilities, with the aim of developing and operating an educational complex on the site.

The company stated that the deal is expected to contribute to revenue and return growth in the coming years once the project is completed and operational.

It also emphasized that the investment aligns with its strategy to expand and grow its student base in line with its long-term strategic goals.