Al Motaqadimah Schools inks SAR 2.9 bln deals to develop 58 educational compounds

Al Motaqadimah Schools Co. (MSC) signed 5 partnership and cooperation agreements with the Saudi Arabian General Investment Authority (SAGIA), Property Development Co. in the Ministry of Education, ASMA Capital, ADIM Capital, and Google Education for a total of SAR 2.9 billion.

The agreements include the establishment and development of 58 educational compounds worth SAR 1.4 billion.

The agreements were signed during a ceremony held at the SAGIA headquarters, in the presence of Governor Ibrahim Al Omar; Undersecretary for private general education in the Ministry of Education, Hanan Bint Salim Aal Amer; MSC CEO Abdullah bin Abdulrahman Al Haqbani; Abdulrahman Bin Saad Al Haqbani; and a group of private education investors and MSC leaders.

“The investment in the education field reached SAR 4 billion in 2019. It fueled further talks on pumping nearly SAR 10 billion in the market, proving the importance of the private sector,” Al Omar said.

“In 1995, MSC began with a small school, and by 2020, it reached 24 educational compounds,” Al Haqbani said in his speech during the ceremony.

The MSC CEO also indicated that within the next 3 years, the company is projected to establish 60 educational compounds.