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Sanam Group Holding has announced that one of its units has signed an investment agreement with Tatweer Buildings Company to develop and operate the third branch of Modern Global International Schools in Riyadh. The 25-year agreement involves investing in an educational land plot owned by Saudi Arabia's Ministry of Education. Under the contract, the project will include the construction, equipping and operation of the new school campus. The annual rental value for the land has been set at SAR 3.8 million, reflecting continued investment in Saudi Arabia's education infrastructure.
Sanam Group Holding has announced that one of its subsidiaries has signed an investment agreement with Tatweer Buildings Company to develop an educational project in Riyadh, Saudi Arabia.
The agreement covers the investment of an educational land plot owned by the Saudi Ministry of Education. As part of the contract, the company will construct, equip and operate the third branch of Modern Global International Schools in Riyadh.
The investment agreement has been signed for a period of 25 years, providing a long-term framework for the development and operation of the educational facility. Under the terms of the agreement, the annual rental value for the educational land has been fixed at SAR 3.8 million.
Tatweer Buildings Company plays a key role in supporting educational infrastructure projects across Saudi Arabia by facilitating the development of school facilities in partnership with private sector investors. Such agreements form part of the Kingdom's broader efforts to expand educational capacity and encourage private participation in the education sector.
The project is expected to add another campus for Modern Global International Schools in Riyadh, supporting the growing demand for quality educational infrastructure in the city while strengthening collaboration between the public and private sectors in school development.
Source Reuters
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