Ataa Educational Co. has inked a ten-year agreement to lease a full-fledged building at a total value of SAR 70.5 million, the company said in a bourse filing.
Located in Riyadh, the building spans 13,200 meters.
The agreement comes within the company’s plans to convert its schools under the Tadaroj program into model educational entities.
The relevant financial impact will be reflected on earnings of H2 of the fiscal year (FY) ending on July 31, 2020.
The agreement involved related parties, the statement added.
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