Tatweer to launch first educational fund for schools building
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Tatweer Buildings Co. (TBC) is planning to launch the "first educational fund" to operate as a real estate development vehicle under the monitoring of the Capital Market Authority (CMA).
The new fund aims to build school campuses and lease them to potential investors in the private and international education sector, the Saudi Press Agency reported, citing Adel Al Sobaihi, VP of Investment at TBC's Educational Investment Services Center.
A new investment program was launched to tap the land bank and properties awarded to the company by the Ministry of Education. Land plots and properties will be deployed for the private sector and potential investors, Al Sobaihi said.
TBC, a limited liability government-owned corporation operating on a commercial basis, is specialized in the management of government projects since Q2 2013.
TBC has been assigned to run, manage and tender the Ministry of Education (MoE) projects of school buildings, educational facilities and administration buildings.
TBC will construct and supervise buildings, manage the related engineering works, in addition to operating, maintaining, and developing those buildings.