January 16, 2025
(eng)
| Element List | Explanation |
|---|---|
| Introduction | National Company for Learning & Education (NCLE) announces purchasing a land in Al-Rabie District – Riyadh, through an electronic public auction held on Wednesday Corresponding to 15 January 2025.
This investment is part of the company’s strategy to expand and grow the student base in order to generate the growth and returns that achieve the company’s strategy. |
| Transaction Details | Purchasing a plot of land in Al-Rabie District – Riyadh, with a total area of (9,450 m2). NCLE is in the process of completing the procedures for transferring the land ownership document. |
| Transaction Amount | 35.7 million Saudi riyals, including real estate transaction tax. |
| Transaction Conditions | None |
| Parties of the Transaction | Seller: Saudi Real Estate Company
Buyer: National Company for Learning & Education |
| Transaction Financing Method | A combination of NCLE’s internal resources and bank facilities. |
| Date of Entering Into The Transaction | 2025-01-15 Corresponding to 1446-07-15 |
| Description of Activity of The Asset Subject of The Transaction | Constructing and operating an educational complex on the plot. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Not Applicable |
| Transaction reasons | Constructing and operating an educational complex that supports the expansion and growth of the student base to generate the growth and returns that achieve the company’s strategy. |
| Expected Impact of the Transaction on the Company and Its Operations | The transaction will contribute to the growth of revenue and returns in the coming years upon the completion and operational commencement of the project. |
| Related Parties | None |
| Additional Information | None |
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