Today, Wednesday, the Future Investment Initiative conference in Saudi Arabia witnessed the signing of an agreement between Safanad Company Ltd. and the international education platform, Global School Management (GSM), to pump $ 200 million into the education sector in the region. .
In an interview with “Al Arabiya” On the sidelines of the Investment Initiative ConferenceKamal Bahamdan, founder and CEO of Safanad Ltd., said this amount will go towards the acquisition of private schools in Saudi Arabia and the United Arab Emirates.
He explained that there are several specific acquisitions between the two countries, with a larger size in Saudi Arabia, noting that over $ 100 million has been directed to the Kingdom.
Bahamdan added that the company is studying expansion into the daycare and distance education sectors.
He stressed that directing investments to the Gulf market reflects the development underway in the region.
Bahamdan revealed the launch of Savanad Middle East, which aims to bring foreign companies to work in the region.
