NCLE buys land in Riyadh for SAR 14.7M to set up educational complex

National Company for Learning and Education (NCLE) purchased on Jan. 5 land in Ishbiliyah district, Riyadh, for SAR 14.7 million (including real estate transaction tax) to construct and operate an educational complex.

In a statement to Tadawul, the company said the 9,025 square meters land was purchased from Ithraa Riyadh Real Estate Co. The transaction will be financed from NCLE’s internal resources.

This investment is part of the company's strategy to expand student base to generate growth and returns that achieve the company's strategy, the statement added.

The transaction will help boost revenue and returns, after the project is complete and begins operations, the company noted.