National Company for Learning & Education announces receiving a notification of award from Tatweer Building Company in relation to a lease contract to invest a land in Al-Narjis district – Riyadh
- Date: 23-Nov-2022
- Source: Mubasher
- Sector:Education
- Country:Saudi Arabia
National Company for Learning & Education announces receiving a notification of award from Tatweer Building Company in relation to a lease contract to invest a land in Al-Narjis district – Riyadh
|Element List||Explanation|
|Introduction|| National Company for Learning & Education (NCLE) announces receiving a notification of award from Tatweer Building Company in relation to a land lease contract in Al-Narjis district – Riyadh, for the purpose of constructing and operating an educational complex for NCLE under the name of Tarbyh Namouthajiyah schools.
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This investment is part of the company's strategy to expand and grow the student base in order to generate the growth and returns that achieve the company's strategy.
|Date of the Award||2022-11-17 Corresponding to 1444-04-23|
|Contract Value|| An amount of SR 2.15 million annually, with an annual increase of 4%, starting from the eleventh year.
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The total value of the contract over its period is SR 44 million (excluding VAT).
|Contract Details||Lease of land in Al-Narjis district - Riyadh with an area of (9,991 m2) to construct and operate an educational complex, for a period of 20 Hijri years from the date of signing the contract. The contract duration includes two years grace period that does not entail any rental value.|
|Related Parties||There are no related parties|
|Additional Information||The company will announce any material developments related to signing the lease contract and the project in due course.|