AOL unit signs SAR 210M Iease for educational complex in Al Khobar

AOL expands into private education with long-term lease contract targeting all academic stages

Academy of Learning Co. (AOL) said that its wholly owned subsidiary, Learning Private Schools Co., signed on Feb. 16 a long-term investment lease contract for its first educational complex in Al Khobar.

According to a statement to Tadawul, the agreement marks the company’s initial operational launch in the private education sector (national, international, and global streams). The move comes as part of the company’s strategy to expand, diversify its activities and income sources, and establish a specialized education arm.

The 30-year contract was signed with Al Hussan Group with an estimated value of SAR 210 million, excluding VAT. It includes leasing an educational complex in Al Aziziyah district with a capacity of 1,950 students.

The contract includes operating the complex to provide educational services across various stages, including kindergarten, primary, intermediate, and secondary levels, in addition to special education programs, as well as licensed educational, training, cultural, and sports activities for both male and female students.

The positive financial impact is expected to appear starting from H1 2027, the company noted, adding that its investment strategy in the school sector relies on leasing buildings rather than owning them, with the aim of reducing capital expenditures and accelerating investment returns.