Alkhaleej Company for Training & education announces signing a lease contract for an educational & residential complexes with Multinational Educational Company.

Alkhaleej Company for Training & education announces signing a lease contract for an educational & residential complexes with Multinational Educational Company.

Element List

Explanation

Introduction

Al-Khaleej Company for Education and Training announces the signing of a lease contract for an educational complex and a residential complex in the Qurtuba neighborhood in the city of Riyadh for a period of (19.8) nineteen years and eight months between Al-Khaleej Company for Education and Training and a multi-national education company.

Date of Announcement of the Award

2024-03-28 Corresponding to 1445-09-18

Contract Subject Matter

signing with the Multinational Educational Company a (19.8) nineteen-year and eight-month lease contract for an educational & Residential complex located in the Qurtoba district of Riyadh. The annual rent for the first year will be seventeen million, nine hundred seventy-four thousand and six hundred eighty-two Saudi Riyals only (17,974,682) Excluding VAT, and then annual increments will be applied to future payments.

The Entity with Which the Contract was Signed

Multinational Educational Company

Date of Signing the Contract

2024-03-28 Corresponding to 1445-09-18

Contract Value

(379,625,283) Three hundred and seventy-nine Million, six hundred twenty-five thousand, and two hundred eighty-three Saudi Riyals, Excluding value-added tax (VAT).

Contract Details

The subject property is leased to the tenant (Multinational Educational