| Element List | Explanation |
|---|---|
| Introduction | National Company for Learning & Education (NCLE) announces the signing of an investment agreement with the Royal Commission for AlUla (the Commission) for the restoration, renovation, and operation of an educational complex building in AlUla Governorate (the Educational Complex) to provide educational services at the complex under the name of Tarbyh Namouthajiyah International Schools. |
| Date of Announcement of the Award | 2026-03-03 Corresponding to 1447-09-14 |
| Contract Subject Matter | An investment agreement for the restoration, renovation, and operation of the Educational Complex building . |
| The Entity with Which the Contract was Signed | The Royal Commission for AlUla |
| Date of Signing the Contract | 2026-03-03 Corresponding to 1447-09-14 |
| Contract Value | NCLE shall not incur any financial obligation in consideration for the use of the building throughout the term of the contract.
The Commission shall provide NCLE with an operational incentive of SAR 7.4 million annually during the first six years of the contract, provided that such incentive shall not be payable for any year in which the number of students enrolled at the Educational Complex reaches 500 students or more at the beginning of the academic year.
The Commission shall also provide a capital expenditure incentive in the total amount of SAR 5 million, which shall be allocated to renovation and restoration works at the Educational Complex.
In the event that additional expansions or renovations are required, NCLE shall bear the related capital costs, provided that such costs shall not exceed SAR 5 million. |
| Contract Details | An investment agreement for the restoration, renovation, and operation of the Educational Complex building for boys and girls, located on a land plot of 9,350 square meters in AlUla Governorate. |
| Contract Duration | 10 Gregorian years starting from 31/7/2026 G, and extendable for an additional period of 10 years by mutual agreement of both parties, provided that the extension is subject to negotiation of the financial consideration and other conditions. |
| Financial Impact and the Relevant Period | The financial impact of this contract is expected to start from the first quarter of the fiscal year 2026/2027 G. |
| Related Parties | Not Applicable. |
| Additional Information | The Educational Complex will start operating from the academic year 2026/2027 G, and it has an estimated capacity of 600 students.
NCLE clarifies that the educational complex will collect tuition fees directly from parents, and that all tuition fee revenues shall accrue to NCLE in full, while NCLE shall bear all expenses associated with the operation of the educational complex.
This investment forms part of NCLE’s strategy to reinforce its competitive position and expand into new areas of strategic importance, and in response to the growing demand for educational services in AlUla Governorate, thereby contributing to meeting the needs of the local community, strengthening its standing in the education sector, and supporting the expansion of its educational services across the Kingdom. |
