Alandalus Property inks MoU with Sama Aquila to develop educational complex

Alandalus Property Co. signed a non-binding memorandum of understanding (MoU) with Sama Aquila Educational Co. on Jan. 25, according to a statement to Tadawul.

The company said the MoU paves the way for a development, construction, and lease agreement for an educational complex to be operated by an international operator, as part of the Education and Training Investment Forum organized by the Ministry of Education.

The MoU has a term of 30 days from the date of disclosure and follows the approval of its five-year strategy, which aims to expand real estate development across targeted sectors, diversify the company’s portfolio, and achieve sustainable growth.

The company added that there is no material financial impact at this stage, as the MoU is non-binding, noting that it will disclose any developments related to the agreement in due course.