Academy of Learning rents headquarters in Dammam for 10 years at SAR 7 mln

Logo of Academy of Learning Co.

 Academy of Learning Co. (AOL) signed on June 4 a contract with Abdullah Ali Al-Qarni, to rent office space to establish headquarters for its e-learning training and English language centers, in Dammam.

The headquarters will also house general administration, AOL said in a Tadawul statement.

The 10-year contract is valued at SAR 7 million, with an annual rental value of SAR 700,000.

The headquarters spans 17,500 square meters and is located in Shatea neighborhood, the Nomu-listed company said.

This comes in line with the firm's expansion plans and aims to support the Saudization plans in the Kingdom.

Due to the preparation of the building, in accordance with AOL’s specifications, the financial impact will be announced in due course, the statement said.

It noted that the deal does not have any related parties.