19-05-2025
NCLE secures 24-year, SAR 68.7M land lease deal
National Company for Learning and Education (NCLE) secured a SAR 68.7 million land lease agreement with Tatweer Buildings Co. (TBC) to develop and operate an educational complex in Riyadh, the company said in a statement to Tadawul.
The 24-year lease covers a 15,500-square-meter plot in Dhahrah Laban, Riyadh. NCLE will pay an annual rent of SAR 2.54 million, with a 10% increase every five years. The total value excludes VAT.
The agreement grants NCLE a two-year rent-free grace period at the start of the lease.
NCLE said the investment supports its expansion strategy, aiming to grow its student base and deliver long-term returns.
The company confirmed that the deal involves no related parties and pledged to disclose any further material developments as required.
