Rikaz, a key Saudi real estate developer, said it has joined First Avenue Real Estate Development Company, AlMajdiah and SNB Capital for the establishment of a new investment fund that is focused on the education sector in Saudi Arabia.
The fund aims to invest in and develop educational facilities across various regions of the Kingdom, contributing to improving the quality of education, enhancing learning environments and strengthening education infrastructure in line with the objectives of Saudi Vision 2030, said Rikaz in a statement.
As pe rthe deal, SNB Capital will manage the fund, while the partnership brings together the expertise in development, investment and asset management to support the development of a sustainable education sector with long-term impact.
This initiative represents a strategic step in Rikaz’s growth journey, expanding its investments into a vital sector directly linked to human capital development and improving quality of life.
Khalid Al Gahtani, Chairman of RIKAZ, said: "Education is one of the most important enablers of building prosperous and sustainable communities. Through this partnership, we aim to contribute to the development of high-quality educational facilities that serve students, families, and communities across the Kingdom."
"We believe in investing in sectors that deliver sustainable impact, and we see strong opportunities in education that combine investment potential with meaningful developmental value while supporting the Kingdom's continued growth," he noted.
The fund will explore a range of investment opportunities in the education sector, including the acquisition and development of educational assets, as well as forming strategic partnerships with local and international operators and specialists.
The initiative also reflects the growing trend of integrating educational facilities within residential and mixed-use developments, enhancing community attractiveness and increasing the long-term value of development projects, he added.-TradeArabia News Service
