To develop a group of educational facilities on ARDCO-owned land in Tilal AlRiyadh - AlMalqa. Framework Agreement Signing with Misk Foundation
Development Location
Tilal Al Riyadh Residential Community
Facts & Figures • Development cost of the first project is estimated at 275 Mn SAR , including land value owned by the ARDCO-led consortium. • ARDCO will begin development as per the scope of the framework agreement , which includes a renewable binding lease agreement with a period of 25 years.
• The first project will be developed on two lands in Tilal AlRiyadh in AlMalqa , with a total area of 22 , 000 m2. • The net annual return on investment will be 8%. The financial impact of each educational facility will be announced separately after the approval of the financial structure and ARDCO’s share in each project.
Pioneering a Sector
Aligning with Vision 2030 • Building an educational experience aligned with Vision 2030’s Human Capabilities Development Program to keep pace with the economic renaissance witnessed by the city and the kingdom’s. • Achieving full alignment with Vision 2030 and relevant government agencies. • Supporting the kingdom’s efforts in attracting the business sector and foreign talents by providing an impeccable educational and family environment. Economic Impact The agreement aims to satisfy the growing need for Riyadh’s growing population , which expects student numbers to grow from 1.5 Mn to 3.7 Mn. The number of international and private schools is expected to double from roughly 1 , 700 schools in 2020 to more than 5 , 000 schools by 2030 based on a study conducted by Strategy&.
This agreement aims to develop a strategic partnership between ARDCO and Misk Foundation by developing BTS educational facilities.
Focused on investing in projects within promising growth sectors to achieve sustainable sources of income by engaging in long-term contracts prior to the development commencement. (Offtake Agreement)
Cooperating with partners in the educational sector , expected to grow in demand with Riyadh’s population growth , and catalyzing institutional investment in the education sector , creating added value to the knowledge economy.
Satisfying Misk Foundation’s current and future requirements in their educational facilities and providing quality solutions to suit their needs , providing an educational environment at par with the highest international standards in the education sector.
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