JEDDAH: Saudi Arabia is making efforts to improve the quality of its education sector’s infrastructure by encouraging public-private partnerships, said Education Minister Dr. Hamad bin Mohammed Al-Asheikh.
The Ministry of Education and Tatweer Buildings Co. (a government-owned entity) on Tuesday announced on their websites the list of prequalified investors, who met the prequalifying criteria to bid for the first project of the executive program for encouraging public-private partnerships initiative to boost infrastructure of the education sector. The committee of the executive program was established by a royal decree.
“The executive program aims to increase the quality of infrastructure in the education sector and to create an attractive investment environment in accordance with best international practices,” the education minister said.
“This first project will follow a build, maintain, transfer (BMT) model and will comprise contracting with the private sector to finance, build and maintain 60 schools — 33 schools in Makkah and 27 in Jeddah — on contract.
Fahd Al-Hammad, the CEO of Tatweer Buildings Co., said: “We held a public-private partnership roadshow earlier in 2018, in which 96 companies took part. Around 57 companies expressed their interest in the project.
He appreciated the role of the National Center for Privatization (NCP) in the selection of investors.
The education minister said public education will continue to be free in both new and old schools owned by the ministry by saying; “The ministry is committed to providing high-quality educational services.”
The Council of Ministers recently passed a resolution approving SR400 million annually to support this program.
Public-private partnership to boost education sector in Saudi Arabia
Public-private partnership to boost education sector in Saudi Arabia
- The education minister said public education will continue to be free in both new and old schools owned by the ministry
Al Akaria signs SR1.2bn agreement lease with Amsa Hospitality
- Project, located in Riyadh Diplomatic Quarters, spans approximately 40,000 sq. meters and includes 240 modern residential units, comprising 176 apartments and 64 villas and townhouses
- CEO of Amsa Hospitality Muin Serhan: We have a certain commitment to deliver to the community and to the project in particular
RIYADH: The Saudi Real Estate Co., also known as Al Akaria, recently announced the signing of a lease agreement for the Amsa Vue Residential Compound in Riyadh with Amsa Hospitality, with the total value of the project estimated at around SR1.2 billion ($320 million).
Spread across 20 years, the cost reflects the long-term nature of the investment and its focus on value, sustainability, and operational quality.
The project, located in Riyadh Diplomatic Quarters, spans approximately 40,000 sq. meters and includes 240 modern residential units, comprising 176 apartments and 64 villas and townhouses.
Acting CEO of Al Akaria Khalid Al-Sehaibany stated that the project embodies the company’s approach to developing residential communities that focus on an integrated experience built on quality planning and comprehensive facilities, elevating the standard of living in Riyadh.
CEO of Amsa Hospitality Muin Serhan told Arab News that the core philosophy behind the project is to create a space that focuses both on individuals and community values.
Serhan pointed out that this strategy is central to a broader ambition to redefine hospitality in Saudi Arabia by embedding the hallmark of Arabian hospitality into the brand’s identity.
“We have a certain commitment to deliver to the community and to the project in particular. Year on year, we're adding value to the landlord and the owners of the assets,” he said.
He outlined a clear vision for the company’s legacy, aiming to set a new standard for hospitality management in the region. The goal, he said, is to be the go-to partner for developers and asset owners seeking to integrate hospitality elements into their projects.
Serhan confirmed that this vision is currently being brought to life through close collaboration with contractors and designers.
He emphasized that the process is a “moving journey,” where the designer, the brand, and the location converge to create a product that truly reflects the local narrative.
