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

07/07/2024 Argaam

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

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 for 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.

 

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In a statement to Tadawul, the company said that the campus is located in As Suwaidi in Riyadh with an area of 3,080 square metre and a capacity of 900 students.

 

This will be the second AOL branch for men in the Kingdom and the first in Riyadh, which comes in line with the company’s expansion plans and as a support of the Saudization plans for jobs in the Kingdom, the statement added.

 

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

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