Riyadh - Mubasher: Al-Ofoq Educational Company announced that it signed two contracts on Saturday with Saleh Abdulaziz Al-Ghanim General Contracting Company and Al-Mawso’a Al-Raqmiyya Trading Company, with a total value of SAR 16.7 million, excluding value-added tax.

The company said in two separate statements on Sunday on “Tadawul” that the first contract was to implement finishing works for the new educational complex in Dhahrat Laban district, at a value of 15.5 million riyals, excluding value-added tax.

The company indicated that the contracted company is the one that implemented the concrete and structural works of the educational complex, and that the contract does not include furniture, office, school and technical equipment.

The company said that the second contract is for purchasing office and school equipment for the new educational complex in Dhahrat Laban district at a value of 1.2 million riyals, excluding value-added tax, noting that the Vice Chairman of the Council, Ahmed Abdullah Al-Kanhal, is a related party.

She explained that the term of the first contract ends on June 30, 2025, and the final delivery of the second contract will take place on June 1, 2025, expecting the educational complex to operate in the next academic year 2025/2026 AD, with the financial impact being reflected in the financial results for the fiscal year 2025/2026 AD.