Academy of Learning Company announced the rental of a headquarters for its new branch in the Al-Fursan District on King Fahd Road in Dammam. The space, covering an area of 9,177 square meters, will be used to establish a women’s training institute for a period of 15 years, with a total value of 55.88 million riyals.
In a statement released on Tadawul today, the company indicated that the annual rental value for the first five years will be 2.94 million riyals. For the next five years, it will be 3.73 million riyals, and for the final five years, it will be 4.51 million riyals.
The company stated that the building has the capacity to accommodate 2,700 female students, marking this as the fourth branch for female students in the city of Dammam.
This initiative aligns with the AOL’s future vision, supporting its growth in operational operations and providing a wider range of distinguished services throughout the Kingdom of Saudi Arabia.
It is expected that the financial impact of this contract will begin in the second half of 2024.