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Al-Muhafaza Awarded Lease

Al-Muhafaza Awarded Lease

Al-Mahafaza Education Company received notice that it had been awarded a lease contract to develop a plot of land in the Al-Asimah district of Al-Hofuf, in cooperation with Tatweer Buildings Company. The project involves establishing, equipping, and operating an educational complex on a site measuring 14,105.50 square meters. The contract runs for 25 years, with a two-and-a-half-year grace period. Annual rent starts at SAR 605,000 and increases by 10% every five years. The total lease value is SAR 16,955,427.50, excluding VAT.

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