| Element List | Explanation |
|---|---|
| Introduction | As part of the implementation of the Company’s strategy to expand and diversify its activities and revenue sources in the education sector, and in continuation of its steps toward establishing a specialized educational platform, the Company announces that its wholly owned subsidiary, Learning Private Schools Company (100% owned by Academy of Learning Co.), has signed a long-term investment lease contract for its first educational complex in Al-Khobar City. This represents the Company’s first operational launch in the private education sector (National – International – Global) and reflects its strategic direction toward diversifying investments and enhancing sustainable growth by entering sectors with stable and long-term returns. |
| Date of Announcement of the Award | 2026-02-16 Corresponding to 1447-08-28 |
| Contract Subject Matter | Leasing a new educational complex for a period of thirty (30) years to be operated as an educational complex for male and female students, with a total capacity of 1,950 students, under Learning Private Schools Company. |
| The Entity with Which the Contract was Signed | Al-Hossan Group for Education and Training Co. Ltd. |
| Date of Signing the Contract | 2026-02-16 Corresponding to 1447-08-28 |
| Contract Value | SAR 210,000,000 (Saudi Riyals Two Hundred and Ten Million only), excluding Value Added Tax (VAT). |
| Contract Details | The contract includes leasing a new educational complex located in Al-Khobar City – Al-Aziziyah District – Al-Aqiq Neighborhood, with a total capacity of 1,950 students. The complex will provide private education services (National – International – Global) across all educational stages, including: Kindergarten, Primary, Intermediate, Secondary, Special education programs for both males and females, in addition to licensed educational, training, cultural, or sports activities within the Kingdom of Saudi Arabia, throughout the duration of the contract. |
| Contract Duration | 30 years |
| Financial Impact and the Relevant Period | The contract is expected to have a positive impact on the Company’s financial results starting from the first half of the next fiscal year. |
| Related Parties | None |
| Additional Information | The Company confirms that its investment policy in schools is based on leasing educational buildings rather than owning them, with the aim of reducing capital expenditures and achieving investment returns more quickly. |
| Attached Documents | Attached Documents Attached Documents |
