The National Education Company has announced the signing of Al-Ghad Private Schools Company Ltd. (a 100% owned subsidiary) a lease agreement with Ruboua Real Estate Education Company for an educational complex building in Medina Riyadh, King Abdullah district, for a period of ten (10) years.

The company said in a statement to the Saudi market (Tadawul) today, Tuesday, that the announcement of the award took place today as well as the signing of the contract, indicating that the value of the contract is 63.7 million riyals for 10 years binding On both sides, starting on July 1, 2020, they are paid in annual installments.

And an amount of 36.7 million riyals for (5) years if the company’s right to cancel the extension for the first period is not used and it is paid in annual payments. And an amount of 40.4 million riyals for (5) years if the company’s right to cancel the extension for the second period is not used and is paid in annual payments. And an amount of 43.6 million riyals for (5) years if the company’s right to cancel the extension for the third period is not used and is paid in annual payments.

The company explained that an educational complex building is located on a land area (11,283 m 2) and a total building area (17,908 m 2) in Riyadh, in the King Abdullah neighborhood, stating that the rent With the option not to extend, it is granted only to Al-Ghad Schools Private Limited Company (one person company) for three (3) periods, each period over five (5) years.

The company noted that the educational complex includes departments for boys and girls.