ARDCO says financial impact of facilities with Misk to rely on investment structure

Logo of Riyadh Development Co. (ARDCO)

Riyadh Development Co. (ARDCO) said that its share in all educational facilities projects being developed with the Mohammed bin Salman Foundation (Misk), as well as their financial impact, will vary according to the investment structure.

In a statement on Tadawul, ARDCO said that its share and the financial impact of each project will be announced separately, adding that no related parties are included in the deal.

According to data available on Argaam, the developer signed a 25-year framework agreement with Misk to develop educational facilities in Riyadh.

The first project will be an educational facility on land owned by an ARDCO-led consortium in the Tilal AlRiyadh community in AlMalqa, Riyadh.