NCLE signs investment deal with RCU to revamp, operate educational complex

NCLE to renovate, operate educational complex under Tarbiya Model International Schools brand

National Company for Learning & Education (NCLE) signed an investment agreement with the Royal Commission for Al-Ula (RCU) to renovate, refurbish, and operate an educational complex building in Al-Ula, with the aim of providing educational services under the Tarbiyah Namouthajiyah International Schools umbrella.

According to a statement to Tadawul today, March 4, the company said the contractual term extends 10 years, starting from July 31, and is renewable for an additional 10 years upon mutual agreement, with the extension subject to negotiation of the financial value and other terms.

Under the deal, NCLE will not incur any financial consideration for the use of the boys’ and girls’ school building, which is built on a 9,350-sqm plot in Al-Ula. RCU will grant an operational incentive of SAR 7.4 million annually for the first six years, provided that student enrollment at the start of the academic year is 500 students or more.

In addition, RCU will provide a capital expenditure incentive totaling SAR 5 million to support renovation works. However, any additional expansions or upgrades will be borne by NCLE, capped at SAR 5 million.

The relevant financial impact of the agreement is expected to start showing in Q1 of the company’s FY 2026/2027, with operations starting in the 2026/2027 academic year at an estimated accommodating capacity of 600 students.

The planned complex will collect tuition fees directly from parents, with all tuition revenues accruing to the company, which will also bear all operating expenses.

NCLE pointed out that the investment aligns with its strategy to strengthen its competitive position, expand into strategic regions, and meet growing demand for educational services in Al-Ula and across the Kingdom.