Ataa Educational, Tatweer Buildings sign SAR 118 mln lease contract

02/01/2023 Argaam
Logo ofAtaa Educational Co.

Logo of Ataa Educational Co.

Ataa Educational Co. signed on Jan. 1 a lease contract for an educational complex in the Sulaymaniyah district in Riyadh with Tatweer Buildings Co. at a total value of SAR 118.03 million.

 

According to a statement on Tadawul, the 30-year contract will have a financial impact on H1 2023.

 

The integrated educational complex spans an area of 13,940 square meters, with an annual rental value of SAR 4 million.

 

The building has a capacity of 2,500 students, and the initial operation is expected within the next year.

 

Ataa Educational said that it will announce any material developments regarding the lease contract in due course.

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