NCLE buys SAR 27.9M land in Jeddah for educational complex
The National Company for Learning and Education (NCLE) purchased today, Feb. 9, a land plot in Jeddah's North Obhur District for SAR 27.9 million, including real estate transaction tax.
The acquisition will be funded through a combination of NCLE's internal resources and bank facilities.
In a statement to Tadawul, NCLE said the 10,630-square-meter plot will be used to develop and operate an educational complex. The transaction is expected to drive revenue and returns in the coming years once the project is completed and becomes operational.
The company added that the investment aligns with its strategy to expand and grow its student base, supporting profitability growth. It also confirmed that there are no related parties involved in the deal.
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