Horizon Educational inks 2 contracts worth SAR 16.7M for new complex

Logo of Horizon Educational Co.

Horizon Educational Co. signed today, Feb. 16, two contracts worth SAR 16.7 million (excluding VAT) with Saleh Abdul Aziz Alghanim General Contracting Co. and Digital Encyclopedia Trading Est.

According to two separate statements to Tadawul, the company said the first contract, worth SAR 15.5 million (excluding VAT), covers the finishing works of the new educational complex in Dhahrat Laban neighborhood.

For more news and details on the projects

The contractor handled the concrete structure and construction works of the complex. However, the contract does not include furniture, office equipment, school supplies, or technology installations.

The second contract, valued at SAR 1.2 million (excluding VAT), is for the procurement of office and school equipment for the new educational complex in Dhahrat Laban.

Vice Chairman Ahmed Al-Kanhal is a related party, the statement noted.

Horizon Educational confirmed that the contracts fall within the scope of normal business operations and do not include any preferential advantages.

The company clarified that the first contract is set to expire on June 30, 2025, while the final delivery for the second contract is scheduled for June 1, 2025.

Horizon Educational expects the new educational complex to be operational for the 2025/2026 academic year, with the financial impact reflected in the 2025/2026 results.