Dubai: Colliers International, The Global Commercial Real Estate Leader, released its latest white paper on the K12 market in the Kingdom of Saudi Arabia. The paper is the 7thedition in a series of research papers focusing on education in the MENA region.
KSA is the largest single K12 education market in the combined Arabian Gulf Region, by a factor of 3; and it has opened its doors to overseas investment.
“There are approximately 39,600 schools and 9.1 million K12 students in the Arabian Gulf. The Kingdom currently accounts for over 85% of those schools and 68% of the students; that’s before adding in the country’s expansive population profile. It is estimated that the current market value of the Kingdom’s K12 sector exceeds US$ 37 billion (2018). However, compared to its regional neighbours, the Kingdom has a low private school penetration rate, currently under 20% of all schools and only 6% being internationally branded, which is the lowest in the region”. highlighted Mansoor Ahmed, Director at Colliers International MENA.
“Based on population estimates, the total minimum requirement for new student places is 1.1 million by 2030, rising to over 2.1 million for more optimistic projections. Even at an unchanged penetration rate, private schools will require approximately 200,000 to 400,000 new places in the next 11 years in order to sustain its current share in the K12 market”. He continued.
The paper provides a market projection of the K12 sector, especially in light with vision 2030, which lists the education sector as one of the main pillars for the Kingdom’s economic and social growth with the largest departmental budget allocation of $ 51 billion.
“SAGIA is leading the way by enabling access for international companies to establish operations in the Kingdom. Subsequent to the recent lifting of foreign ownership restrictions, we are seeing a significant increase in investment from regional and international operators and investors”. Added Mansoor.
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Inci Gecekusu, Associate Marketing & Communications Manager +971 55 763 3737 Inci.Gecekusu@colliers.com
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Colliers International is a leading global real estate services and investment management company. With operations in 68 countries. With operations in 68 countries, our 17,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com,Twitter @Colliers or LinkedIn.
In MENA Colliers, International has provided leading advisory services through its regional offices since 1996. Colliers International currently has five corporate offices in the region located in Dubai, Abu Dhabi, Egypt, Riyadh and Jeddah.
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