Al-Muhafaza Wins Land Lease for Al-Hofuf School Complex
Al-Hofuf, Saudi Arabia — Al-Muhafaza Education Company has received a contract award notice for a 25-year land lease in Al-Hofuf. The deal with Tatweer Buildings Company covers a 14,105.50 square meter plot in the Al-Asimah district. Total rent over the full term reaches 16.96 million SAR, excluding VAT. Deal Details The lease, awarded on November […] The post Al-Muhafaza Wins Land Lease for…
Al-Muhafaza Education Company has secured a 25-year land lease in Al-Hofuf, Saudi Arabia for a school complex. The agreement, awarded on November 4, 2026, involves Tatweer Buildings Company and covers a 14,105.50 square meter site in Al-Asimah district. Al-Muhafaza will pay a total of 16.96 million SAR in rent, excluding value-added tax, with the annual rate starting at 605,000 SAR and increasing by 10% every five years.
The lease includes a two-and-a-half-year grace period, during which no rent is due, allowing the company time to develop the property before incurring financial obligations.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
