Daijiworld Media Network

Riyadh, May 22: The Education Ministry in Saudi Arabia has decided to spend more than $500 million for building educational institutions that will serve 90,000 students in major urban centers.

Tatweer Buildings Co., represented by the Education Ministry, signed an agreement with Al-Mabani Real Estate Co on Tuesday to build 30 institutions for students in Dammam, Jeddah and Riyadh.

In the agreement, it has decided to establish 10 complexes with a combined intake of 30,000 students. The project is expected to be completed by 2022 with cost around SR800 million ($213 million).

CEO of Tatweer Fahd Al-Hammad said the agreement represented opportunities for investors interested in building and operating high-quality education infrastructure with “state-of-the-art designs.”

Secretary of the Minister of Education Saad Al-Fuhaid and Director General of Education at the Ministry Mohammed bin Eid Al-Otaibi were present while signing the agreement.