NCLE OKs 3 educational complexes in Riyadh, Jeddah at SAR 168M

NCLE estimated the cost of the project at SAR 51 million, according to a statement to Tadawul.

The board also approved establishing an educational complex, with an estimated capacity of 2,100 students, in Al Rabie district, Riyadh, at an estimated cost of SAR 57 million.

Additionally, NCLE will set up an educational complex, with an estimated capacity of 2,100 students, in North Obhur District, Jeddah, for approximately SAR 60 million.

The total estimated cost of the three projects includes construction works, air conditioning, elevators, theatre, furnishing, technical devices and other equipment for the educational complexes.

The projects will be funded through NCLE’s internal resources and bank facilities, and construction work in the three projects will likely be complete during Q4 2025/2026, with the launch of the three projects as of academic year 2026/2027.

These projects will likely impact NCLE’s financial results as of Q1 2026/2027, upon the commencement of operations.

Suhaib Al-Hafez & Partners Contracting Co., Legend Projects Contracting Co. and Bani Limited Co. were appointed as main contractors. Several suppliers will be contracted at a later stage for furnishing and equipping the educational complexes.

These investments came within the company’s strategy to expand and grow its student base, to achieve growth and returns aligned with its objectives.