Al-Subaihi: 87,000 square meters of investment opportunities for schools in the Eastern Province
Tatweer Buildings Company, a subsidiary of the Education Development Holding Company, owned by the Public Investment Fund, in cooperation with the General Administration of Education in the Eastern Region, has offered ten investment opportunities in the private education sector in the Eastern Region after it participated with the National Public Education Agency and assigned it to operate the Educational Investment Services Center in the education of private sector.
The Vice President for Investment and Asset Management at Tatweer Building Company M. Adel Al-Subaihi, during a remote meeting organized by the Asharqia Chamber represented by the Training and Education Committee on Thursday 16 July 2020, presented investment opportunities for schools in the Eastern Province with an area of 87,000 square meters, distributed over Dammam, Dhahran, Al-Ahsa and Hafr Al-Batin, pointing out that the company opened a door The competition is to invest in these opportunities on July 8th, while the competition will be closed on July 30th.
Al-Subaihi said that the company issues the immediate license, raises the requests of investors to take advantage of the facilities owned by the private sector, follows the procedures for issuing building permits, and follows up on licensing services and the final issuance.
Al-Subaihi indicated that the company increased the investment terms from 25 to 35 years, then the original returns to the ministry.
And in the eastern region, there are 246 private schools in which more than 100,000 students study, but there is a dearth of private secondary schools and schools with a global curriculum, and they are studying the preparation and development of engineering standards, private schools, special education schools, nurseries and kindergartens and are working to prepare standards for workplace schools And to be close to the work of mothers, he also said that they are studying the annual increase in rent according to the growth and growth of students in junior schools in investment to support it.
Al-Subaihi explained that an investment program represents an activation of the partnership with the private sector, as the Ministry of Education assigned the building development company the investment of assets and its subsidiaries, and the company launched an investment program through which these assets are offered to private sector investors to benefit from them, indicating that they are in a development company for buildings They target the desires - of current investors in the private education sector or 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, part of the lands, or rents, after the Ministry of Affairs facilitated Village municipality obtaining permits and amending previous conditions, and what has been made during the past year in making an investment in education available to foreign investors.
He pointed out that an investment program, which provides various types of support such as facilities in the terms of rent, and lands in various areas, indicating that the target group is investors, financiers, real estate developers, private education operators, and individuals.
He noted the existence of cooperation with the "Project Fund" 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 him, and there will be a qualitative shift in education.
Al-Subaihi mentioned that the Ministry of Municipal and Rural Affairs 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 specific space for each student for each stage, in addition to removing the requirement for the distance between schools, while the previous conditions provided for permitting the construction of a floor Ground and two floors, as well as defining a specific area for each stage of schools and stipulating the distance between schools.
He noted that the requests go through several stages, including study, initial approval, offering and benefiting, accreditation, building permits, licensing, and closing, noting that the company is studying a study of investor desires, offering assets for investment and adopting architectural plans for private education buildings, as well as coordination with Relevant authorities, in addition to stopping the activity of the facility at the request of the owner.
