NCLE: Timeline changes for Dhahrat Laban, Obhur North won’t affect returns

Mohammed Al Khudair, CEO of National Company for Learning and Education (NCLE)

Mohammed Al Khudair, CEO of National Company for Learning and Education (NCLE), said the decision to bring forward the opening of the Dhahrat Laban project and delay the Obhur North project will not affect the investment feasibility or expected returns.

In an interview with Argaam, the CEO added that there is no impact on the internal rate of return (IRR) or cash flows.

The financial impact of the Dhahrat Laban project will begin to appear starting from Q1 of the fiscal year 2026/27, Al Khudair noted.

He confirmed that the adjustment in the project timelines came as a result of delays in obtaining the necessary permits for the Tarbiyah Namouthajiyah Schools (TNS) complex in Obhur North district, Jeddah, which affected the construction schedule and led the company to reprioritize the opening of its educational projects.

According to Argaam data, NCLE brought forward the opening of its TNS complex in Dhahrat Laban, to the 2026/27 academic year from 2027/28, citing faster construction progress.

Meanwhile, the company decided to delay the launch of its North Obhur project, to the 2027/28 academic year, compared to 2026/27 earlier, due to slower permit approvals, which affected construction timelines, prompting a reprioritization of project openings.