Saudi Ministry meets KSA, UAE investors to construct 60 schools

Phase 2 of the projects include long-term contracts to fund, build, and maintain schools in Al-Madinah and Al-Munawwarah

Saudi Ministry meets KSA, UAE investors to construct 60 schools [representative image]
Pixabay
Saudi Ministry meets KSA, UAE investors to construct 60 schools [representative image]

Saudi Arabia’s National Center for Privatisation and the kingdom’s Ministry of Education have concluded a roadshow in a number of cities in Saudi Arabia and the UAE, where representatives from government entities met investors with the aim of attracting funding for Phase 2 of projects involving the construction of government schools.

Phase 2 of the projects comprises long-term contracts for the funding, construction, and maintenance of 60 schools in the Al-Madinah and Al-Munawwarah regions, following which ownership will be transferred to the state within the path of construction, maintenance, and conversion.

More than 100 companies and investors, and those interested in the real estate development, contracting, maintenance, and operation sector at the local and regional levels, attended the roadshow.

The roadshow shed light on project details; the criteria for selecting land on which schools are located; student capacities for schools; the contract period; the contractual model; and the period of progress for each of the stages.

The National Center for Privatisation stated that the roadshows were organised to attract investments into the kingdom’s education sector, which is looking to provide high-quality and attractive educational environments in accordance with international standards.

The centre also noted that the roadshows are targeting local investors, with opportunities for allocation and partnership projects between the private and public sectors, which reflects the importance of attracting foreign investments to integrate with the local content to support the national economy.

Firms wishing to enter into the project, can send a request to express their desire to do so, on the National Allocation Centre’s website or the Tatweer Building Company’s link before January 30, 2020.

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