Al Mohafaza inks SAR 44M contract to build educational complex

Al Mohafaza Company for Education’s board of directors approved, on Jan. 30, signing a contract with Watan Contracting Co. to build an educational complex at the cost of SAR 44 million.

In a statement to Tadawul, the company said that the project will be built on a land plot (number 124 of plan number 2497) in Riyadh’s Al-Munsiyah neighborhood with an area of 12,000 square meters.

The 15-month contract was signed on Jan. 1, 2025.

The educational complex is expected to have a positive impact on the company’s results after it starts operating.

The contract is in line with Al Mohafaza’s strategy to expand and increase the student base to achieve the growth and returns targeted within its strategy, the statement said.