AOL inks SAR 20M contract to rent campus for higher training

07/07/2024 Argaam
Logo ofAcademy of Learning Co. (AOL)

Logo of Academy of Learning Co. (AOL) 

Academy of Learning Co. (AOL) signed a contract with Mohammed Saud Saad Al-Arifi for renting a campus to establish a higher training institute in Riyadh for 10 years for SAR 20 million.

 

The annual rental is SAR 2 million, the company said in a statement to Tadawul today, July 7.
 

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It said the campus is located in Al Suwaidi District, Riyadh, with an area of 3,080 square meters and an accommodating capacity of 900 students. 

 

This will be the second AOL male branch in Saudi Arabia and the first of this kind in Riyadh. It aligns with the company’s expansion and supports the Saudization plans for local job creation, the statement added. 

 

The financial impact of this contract is expected to begin during the second half of 2024.

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