Latest news with #NCLE
Argaam
26-05-2025
- Business
- Argaam
NCLE to set up 3 educational complexes in Riyadh, Jeddah at SAR 168M
National Company for Learning and Education (NCLE) announced in a statement to Tadawul that its board of directors on May 25 approved a project to establish an educational complex at an estimated capacity of 2,000 students on the land plot located in Ishbiliyah district, Riyadh, at an estimated cost of SAR 51 million. It also approved establishing another educational complex with an estimated capacity of 2,100 students, in Al Rabie district, Riyadh, at an estimated cost of SAR 57 million. Additionally, NCLE will establish another educational complex at an estimated capacity of 2,100 students, in North Obhur District – Jeddah, at an estimated cost of SAR 60 million. These investments came within the company's strategy to expand and grow its student base, to achieve growth and returns aligned with its strategic objectives. The total estimated cost of the three projects includes construction works, air conditioning, elevators, theatre, furnishing, technical devices and other equipment for the educational complexes. The projects will be funded through NCLE's internal resources and bank facilities, and construction work in the three projects will likely be complete during Q4 2025/2026, with the launch of the three projects as of academic year 2026/2027.
Argaam
19-05-2025
- Business
- Argaam
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.
Argaam
18-03-2025
- Business
- Argaam
NCLE says new educational complexes make up SAR 24.7M of Q2 2024/25 revenue
Mohammad Al-Khudair, CEO of The National Company for Learning & Education (NCLE), said that revenues from the new educational complexes launched at the beginning of the academic year 2024-2025 contributed SAR 24.7 million to total topline as of Q2 2024/25. Al-Khudair told Argaam that NCLE's Q2 revenues grew by 16% year-on-year (YoY). This growth was driven by a 13% increase in the number of students enrolled in the company's schools, rising from 28,200 students to 31,900 students. Additionally, net profit jumped 18% YoY driven by higher revenues, thanks to the rise in student count and the opening of new educational complexes. NCLE inaugurated four new educational complexes in Riyadh at the beginning of the current academic year, including: Tarbiyah Namouthajiyah Schools in Qurtubah, and Al-Narjis districts. It also launched Al-Wataniya School in Hittin district and Tarbiyah Al-Namouthajiyah International Academy in Al-Qairawan district.
Argaam
09-02-2025
- Business
- Argaam
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.
