The Academy of Learning Company (9541.SR), in a significant move to expand its educational footprint has announced the rental of a new location for its upcoming campus in the Al-Fursan neighbourhood of Dammam, situated on King Fahd Road. The new campus, dedicated to women’s education, will span an impressive area of 9,177 square metres and is set to become the fourth campus for female students in Dammam.
The contract, signed with Meraas Al Sharqiya Investment Company, involves a long-term rental agreement lasting 15 years. The total value of the contract amounts to 55,875,000 Saudi riyals. The annual rental value has been structured progressively: 2,937,500 SAR for the first five years, 3,725,000 SAR for the subsequent five years, and 4,512,500 SAR for the final five years.
This expansion aligns with the Academy’s strategic vision of enhancing its training operations and extending its distinguished services to a broader segment of the Kingdom of Saudi Arabia. The new facility will have the capacity to accommodate 2,700 female students, further contributing to the educational development in the region.
The contract was officially announced and signed on 2nd June 2024, marking a pivotal moment in the Academy’s growth trajectory. The financial impact of this significant investment is expected to manifest during the second half of 2024, signalling a robust period of growth and development for the Academy of Learning Company.
