Eng. Adel Al-Subaihi, Vice President of Investment and Asset Management at TBC, Eng. Adel Al-Subaihi, presented ten investment opportunities in the private education sector in the Eastern Region, indicating that the Ministry of Education is studying the issuance of licenses for specialized educational academies, pointing out that the specialized academies will be an outlet for strategic partnerships with big companies like Aramco, SABIC, Telecom and Electricity.
Al-Subaihi confirmed, during a seminar entitled (Investment Opportunities in Private Education) organized by the Eastern Chamber, that the company opened the door for competition to invest in these opportunities on July 8, while the competition will be closed on July 30.
And that the number of private schools in the eastern region amounts to 246 private schools in which 100,000 students. Emphasizing that there is a dearth of private secondary schools and schools with an international curriculum, recognizing the shortcomings in architectural details in incubation and kindergarten stage, indicating that there is a study of work headquarters through Set standards to be close to the work of mothers, adding that they are studying the increase in the annual rental rate according to the increase and growth of students in junior schools in investing to support .
Eng. Al-Subaihi, explained that an investment program represents the activation of the partnership with the private sector, as the Ministry of Education assigned TBC the investment of assets and its affiliated properties, and the company launched an investment program through which these assets are offered to private sector investors , indicating that in the TBC they are targeting The desires of the investors - who have the financial ability and do not have experience in operating schools - in the assets owned by the Ministry and in excess of its need at the present time, whether in prefabricated buildings, lands, or part of the lands or rents, after the Ministry of Municipal Rural Affairs facilitated obtaining permits and amending the conditions Previous.
He pointed out that the investment program provides various types of support such as facilities in terms of rent and lands in various areas, indicating that the target group is investors, financiers, real estate developers, private education operators and individuals.
Al-Subaihi noted that there is cooperation with the "Projects Fund" which was proposed by the state at a value of ten billion riyals and supports four main activities, including education, and two billion riyals were allocated to it. there will be a qualitative shift in education, noting that there is a study to operate and allocate some government schools by investors in the private sector, Emphasizing, the licenses of six foreign investors in the private education sector in the past year.
He stated that the company made changes to the requirements of private schools, including permitting the construction of a ground floor, in addition to three floors, as well as specifying a square meter for each student for each stage, in addition to removing the requirement for distance between schools, while the previous conditions provided for permitting the construction of a ground floor and two floors and It also specifies a specific area for each stage of schools and stipulates the distance between schools.