NCLE inks land lease deal in Riyadh

01/06/2025 Argaam
National Company for Learning and Education (NCLE) headquarters

National Company for Learning and Education (NCLE) headquarters

National Company for Learning and Education (NCLE) signed, on May 29, a land lease agreement with Tatweer Buildings Co. (TBC) to develop and operate an educational complex in Riyadh, the company said in a statement to Tadawul.

 

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The relevant financial impact is expected to appear upon the completion and operation of the project.

 

There are no related parties involved in the contract, the statement added.

 

In May, NCLE announced it secured a SAR 68.7 million land lease agreement with Tatweer Buildings to develop and operate an educational complex in Riyadh. The 24-year lease covers a 15,500-square-meter plot in Dhahrah Laban, Riyadh. NCLE will pay an annual rent of SAR 2.54 million, with a 10% increase every five years.

 

The total rental value through the contract term amounts to SAR 68.7 million (excluding VAT).

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