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Dubai's one of the topmost priorities has always been Education. Now, New JV is planning to build around fifty new schools in the Kingdom.
GEMS Education
GEMS Education founded as Global Education Management System is an international education company. It is an educational management firm and global advisory, which is the most prominent operators of kindergarten to class twelve schools in the world with a network of over seven hundred schools in over a dozen countries.
The Work-Frame
Dubai based education provider GEMS Education and its Saudi joint partner, Hassana Investment Company, are organizing to build more than fifty new schools as part of a deal to acquire the most significant school's operator in Kingdom.
The JV will observe the news schools provide Education for more than one lakh students across the Kingdom, GEMS mentioned in a press statement.
As part of the agreement, the JV partners have already acquired the Ma’arif Education Group. The biggest private school owner and operator in Saudi Arabia. The international and national schools operated by the group provide Education for more than twenty-two thousand students.
Bloomberg reported in March that the deal to gather Ma’arif could be worth about four hundred million dollars.
Dino Varkey’s View
Dino Varkey is the CEO of GEMS Education, and he mentioned that the Ma’arif acquisition of fourteen schools in an ideal platform from which to expand and they are incredibly excited about further expansion in the country. Saudi is one of the attractive growth markets for GEMS Education, and we are committed to supporting the education sector in the country.
The joint venture between GEMS and Hassana is a formalization of the ambitious plan to invest in the education sector in Saudi Arabia. The joint venture focuses on generating strong returns on investment over the long term while giving best-of-class education services.
GEMS Education’s JV with Hassana Investment Company – a Saudi asset management firm that is part of the General Organization for Social Insurance was promogulated in October on the sidelines of the Future Investment Initiative (FII) conference in Dubai. The deal was about eight hundred million which focuses on building a network of schools for about one lakh thirty thousand students across the Kingdom creating around sixteen thousand new jobs and forty per cent of whom are assumed to be Saudi Nationals.
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