Saudization of schools to create around 28,000 new jobs for locals

Saudi elementary school students sit an exam in Jeddah, June 13, 2007. (Reuters)
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Updated 09 May 2021
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Saudization of schools to create around 28,000 new jobs for locals

  • Move is likely to create around 28,000 new jobs for Saudi nationals in line with the goals set out as part of Vision 2030
  • UK’s top-ranked King’s College is to open an international school in the Saudi capital this year

RIYADH: The Ministry of Human Resources and Social Development has issued a decision to Saudize all education jobs at national and international schools over the next three years.

The move is likely to create around 28,000 new jobs for Saudi nationals, according to the Argaam financial website, in line with the goals set out as part of Vision 2030.

Earlier this month, a report by real estate consultancy firm Knight Frank said the Kingdom’s education sector is undergoing rapid transformation across all levels, creating “a compelling case to invest in the education space of the Kingdom.”

Between 2015 and 2019, the number of schools in the Kingdom grew 16.5 percent to a total of 38,150. Eighty percent of these are public facilities, but in the fee-paying private sector, the number of schools over the same time period has increased by 42.1 percent.

Saudi Arabia’s Ministry of Investment, in conjunction with the Ministry of Education, also estimated that 1,500 kindergartens will be required across Saudi Arabia over the next decade alone, the report said.

The Saudi education sector is certainly attracting interest. In April, the UK’s top-ranked King’s College announced it is to open an international school in the Saudi capital this year in a deal agreed with the Royal Commission for Riyadh City. It will be the first British independent school brand to open in Saudi Arabia.

British Ambassador to Saudi Arabia Neil Crompton said the announcement reflected the strengthening of ties between Britain and Saudi Arabia in the education sector.


Stc Group issues US dollar-denominated sukuk with a total value of $2bn

Updated 09 January 2026
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Stc Group issues US dollar-denominated sukuk with a total value of $2bn

RIYADH: Stc Group has issued US dollar-denominated sukuk with a total value of $2 billion across two tranches.

The group clarified that the issuance included the offering of $750 million in sukuk with a 5-year maturity at a yield of US Treasury plus 75 basis points, and an issuance of $1.250 billion with a 10-year maturity at a yield of UST plus 90 basis points, according to the Saudi Press Agency.

It noted that the total order book exceeded $8 billion across both tranches, with a coverage rate exceeding 4 times, and participation from over 300 investors in the subscription.

The issuance garnered strong demand from a broad and diverse base of international investors, reflecting solid confidence in the robustness and efficiency of stc Group’s business model and strategy. 

This strategy is aimed at strengthening its digital leadership, seizing infrastructure opportunities, enabling massive projects, and contributing to the realization of Vision 2030 objectives, with a focus on achieving sustainable growth based on operational efficiency and maximizing shareholder value.

This issuance enhances stc Group’s access to international capital markets and solidifies investor confidence in the strength of its credit position. 

It also supports its strategic role in accelerating the pace of digital transformation in the Kingdom and building a thriving digital economy.