Riyadh – Mubasher: Al Mohafaza Company for Education lately signed an agreement to cancel the award notice for a land lease in the Al Jazira district of Riyadh, according to a bourse filing.

The cancellation, upon the deal penned on 6 August 2026, follows the inability of the first party Tatweer Building Company to finalize the contract due to complications related to the underlying asset.

The initial award for the site was previously announced on 10 February 2026.

According to the regulatory filing, the termination of the award notice was necessitated by specific issues identified with the property that prevented the formal execution of the lease agreement.

Al Mohafaza for Education confirmed that there are no costs associated with this development.

Furthermore, the listed company stated that the cancellation of the award notice will have no impact on its financial statements.

This update concludes the process regarding the specific site in the Al-Jazeera district that was under negotiation since the original award date.

Al Mohafaza for Education earlier entered into an agreement with a Saudi university to operate various educational and training programs.