NCLE says private education in Saudi at 16.5%, eyes opening 4 new educational complexes in Riyadh

Khalid Al-Khudair, National Company for Learning and Education’s (NCLE) Chairman

National Company for Learning and Education’s (NCLE) Chairman Khalid Al-Khudiar told Argaam in an interview that student enrollment in private education in Saudi Arabia reached an all-time high of 16.5% of the total this year.

The company’s expansions are still underway. This is through the opening of four new educational complexes in Riyadh at the beginning of the next academic year and student registration in these schools has already begun, he added.

For more exclusive interviews

“It is currently not possible to disclose future results. However, we are optimistic about the local private education sector,” Al-Khudair explained.

This quarter’s 26% year-on-year (YoY) profit rise was driven by the 25% YoY revenue increase. This was due to the surge in the number of students enrolled in the company’s schools, he further noted.

The Chairman stated that the total number of students enrolled in NCLE’s educational complexes at the end of the third quarter amounted to 28,200 males and females.

Moreover, two new Riyadh-based educational complexes opened their doors at the beginning of the current 2023/24 academic year, namely Tarbya Namouthajiyah International Schools (TNIS) in Al-Arid District and Al-Ghad National Schools in Al-Qairawan District.

As for the performance of the new educational complexes, according to Al-Khudair, TNIS contributed SAR 17 million to the company’s overall topline for the current nine-month period, with the enrollment of 1,003 male and female students.

Meanwhile, Al-Ghad National Schools also contributed SAR 6 million to NCLE’s total revenues for the same period, boasting 390 enrolled students, the Chairman concluded.

According to data available on Argaam, NCLE’s profits rose 24% YoY to SAR 99.9 million for the first nine months ended May 31, 2024, from SAR 80.9 million during the same period in 2023. The third-quarter income amounted to SAR 34.8 million.