National Company for Learning and Education announces the project to establish Tarbyh Namouthajiyah schools complex in Al-Rabie District - Riyadh
| Element List | Explanation |
|---|---|
| Introduction | In reference to the National Company for Learning and Education (NCLE) announcement on 16/7/1446 H corresponding to 16/1/2025 G regarding purchasing a land with an area of 9,450m2 in Al-Rabie District - Riyadh, NCLE announces the Board of Directors’ approval on 27/11/1446 H corresponding to 25/5/2025 G on the project to establish Tarbyh Namouthajiyah schools complex (Educational Complex)with an estimated capacity of 2,100 male and female students on the land located in Al-Rabie District - Riyadh.
This investment is part of the company’s strategy to expand and grow its student base, in order to achieve growth and returns aligned with its strategic objectives. |
| Date of Board Resolution in Regard to the Project | 2025-05-25 Corresponding to 1446-11-27 |
| Project Start Date | During the fourth quarter of the fiscal year 2024/2025 G. |
| Project Cost | The total estimated cost of the project is SR 57 million which includes the construction works, air conditioning, elevators, theatre, furnishing, technical devices and other equipment for the educational complex. |
| Financing method for the project | The project will be funded through NCLE’s internal resources and bank facilities. |
| Expected completion date of the project | The construction work of the project is expected to be completed during the fourth quarter of the fiscal year 2025/2026 G. |
| Expected Financial Impact of the Project on the Company’s Results | The project is expected to have an impact on NCLE’s financial results starting from the first quarter of the fiscal year 2026/2027 G, upon the commencement of operations at the educational complex. |
| The Start of the Expected Impact of the Project on the Company’s Results | Upon the commencement of operations at the educational complex starting from the first quarter of the fiscal year 2026/2027 G. |
| Expected Date for the Pilot Production of the Project to Begin | Not applicable |
| Duration of the pilot production of the project | Not applicable |
| Expected date for the commercial production of the project | The educational complex will begin operations at the start of the academic year 2026/2027 G. |
| Executing Party/Counter Party in the Project/Contract | The main contractor for the construction and finishing works of the project is Legend Projects Contracting Company. Several suppliers will be contracted at a later stage for furnishing and equipping the educational complex. |
| Related Parties | There are no related parties. |
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