Ashmore Saudi Expands Education Investment Strategy in Riyadh

Ashmore Investment Saudi Arabia has completed its second acquisition through the Education Investment Fund, reinforcing its long-term commitment to Saudi Arabia’s education sector and the goals of Vision 2030.

The recent transaction, known as Project Oasis, includes Matrix International Schools and Wahat Al Alson School. Both institutions offer international curricula and are located in eastern Riyadh in the Al Salam and Al Manar districts.

Ashmore Investment Saudi Arabia is a Capital Market Institution based in Riyadh and licensed by the Saudi Capital Market Authority to provide advisory, investment management, fund operations, and arranging services.

Project Oasis Adds Two Modern K-12 Campuses

The acquisition marks a significant milestone in Ashmore’s strategy to establish a leading K-12 education platform in Saudi Arabia. The firm aims to respond to rising demographic demand while supporting national education reform priorities.

Since opening in 2016, the Al Salam campus has offered an American curriculum for boys and girls and has developed a strong reputation within the local community. The campus is expected to reach full capacity by 2025.

As part of the platform’s expansion, a new purpose-built campus in Al Manar was developed as a brownfield extension to support the fully utilised Al Salam site. The Al Manar campus began operations at the start of the 2025-26 academic year and enrolled more than 1,800 students in its first year, highlighting strong demand for high-quality private education in Riyadh.

Education Investment Fund Targets Further Expansion

The Education Investment Fund stated that this acquisition follows its first successful deal involving Al Nobala Schools in Riyadh in July 2025.

Together, the investments are expected to create a scalable education platform that could collaborate with five or more school operators across Riyadh, offering both national and international curricula.

Ashmore also aims to pursue a listing of the education platform on Tadawul before the end of the fund’s lifecycle, subject to market conditions and regulatory approvals.

Vision 2030 Supports Growth of Private Education

Ashmore’s education investment strategy is supported by strong sector fundamentals and significant government backing.

Education remains the third-largest area of government expenditure in Saudi Arabia. The Ministry of Finance announced allocations of approximately SAR 200 billion in the 2026 budget.

Structural reforms introduced by the Ministry of Education are designed to improve governance, institutional standards, and long-term sustainability across the sector.

Under Vision 2030, Saudi Arabia aims to increase private sector participation in K-12 education from around 17 per cent in 2025 to 25 per cent by 2030. This would add approximately 850,000 students to private education institutions.

The government also plans to establish 1,150 new private schools by 2030, supported by incentives including interest-free loans, land grants, subsidised rents, curriculum development initiatives, and investments in teacher and student welfare.

Leadership Comments on Project Oasis Acquisition

Commenting on the acquisition, Ahmed Al Mohaisen, CEO, Managing Director and Board Director of Ashmore Investment Saudi Arabia, said:

“Education serves as a fundamental pillar in the social and economic transformation of Saudi Arabia. Our recent acquisition demonstrates our firm belief in this sector and our confidence in the Kingdom’s long-term growth narrative. Through our Education Investment Fund, we target to support high-quality school operators, enhance institutional governance, and make significant contributions to the objectives outlined in Vision 2030. Project Oasis capitalizes on our established expertise in the education investment sector, highlighted by the successful divestment of the previous Ashmore GCC Education Fund in 2024. By collaborating with reputable operators and investing in modern, purpose-built facilities, we are developing a platform that not only targets to achieve exceptional educational outcomes but also creates sustainable value for our investors.”

Mostafa Al Nashar, Chief Executive Officer of Al Nashar Educational Company, added:

“Project Oasis represents the culmination of years of disciplined institutional work, a steadfast commitment to educational quality, and the development of a strong model in management, operations, and educational excellence, capable of delivering sustainable long-term growth. At Al Nashar Educational Company, we take pride in what our exceptional team has accomplished and in the high standards it has established in management and operations, which have played a pivotal role in strengthening the project’s position and earning the trust of parents and the wider community. This transaction reflects the true value of Project Oasis and marks an important milestone in its transition into a new phase of expansion and development. We are pleased to partner with Ashmore Investment Saudi Arabia at this stage of the journey. Ashmore has an established track record of investing in the Kingdom’s priority sectors, including education, healthcare, and industrials. The firm brings extensive regional expertise to its educational strategy. Its approach integrates active asset management, operational proficiency, and a close alignment with Saudi national development objectives. We believe this partnership comes at the right time, supported by the Kingdom’s strong investment environment and the opportunities created by Vision 2030, which continue to advance the growth of high-quality private education and pave the way for the development of strong and sustainable education platforms in Saudi Arabia.”

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