DAA Daily

GEMS Education May Invest $800 Million in Saudi Arabia

On 24 October, GEMS education and a Saudi Arabian state investment firm agreed to invest $800 million to develop a school network across the UAE. Companies such as the Varkey Group, and Blackstone, owning GEMS, signed a memorandum to form the partnership with Hassana Investment Co in order to make this happen.

According to the Saudi Government, the goal of this investment is to provide 130,000 children to go to school, yet it also provides 16,000 new job opportunities. Lastly, the partnership agreed to build brand new schools, yet to also upgrade older schools within the community.

 

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