|16 January, 2020

Saudi MSC, SAGIA sign $773mln cooperation agreements

Saudi Arabia is among the top ten countries in the world in terms of spending on education

Governor and Chairman of the Board of Directors of Saudi Arabian General Investment Authority (SAGIA) Abdullatif A. Al-Othman speaks during the opening ceremony of the Euromoney Conference in Riyadh May 7, 2013. REUTERS/ Faisal Al Nasser . Image used for illustrative purpose.

Governor and Chairman of the Board of Directors of Saudi Arabian General Investment Authority (SAGIA) Abdullatif A. Al-Othman speaks during the opening ceremony of the Euromoney Conference in Riyadh May 7, 2013. REUTERS/ Faisal Al Nasser . Image used for illustrative purpose.

REUTERS/ Faisal Al Nasser

Riyadh –  Al Motaqadimah Schools Company (MSC) has signed five cooperation and partnership agreements with the Saudi Arabian General Investment Authority (SAGIA) and Tatweer Buildings Company (TBC) with a total value of SAR 2.9 billion.

In partnership with Asma Capital, Adeem Capital, and Google Education the agreements involve building 58 educational complexes with SAR 1.4 billion investments.

Saudi Arabia is among the top ten countries in the world in terms of spending on education, the Governor of SAGIA Ibrahim Al Omar said on the sidelines of the signing ceremony.

Meanwhile, the CEO of MSC Abdullah Al Haqabani said that the company currently owns 24 education centres and it aims to triple this number to 60 within three years, in order to help achieve the national target of bringing the share of civil education students to 25% of the total.

Source: Mubasher

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