Ashmore Investment Saudi Arabia is a Capital Market Institution (“CMI”) based in Riyadh licensed by the Saudi Capital Market Authority to engage in advising, arranging, managing investments, and operating funds. Managed by Ashmore Investment Saudi Arabia, the Education Investment Fund has finalized its second acquisition. This strategic move underscores the firm's long-term commitment to bolstering the Kingdom's education sector in alignment with Saudi Vision 2030. 

The recent transaction, referred to as Project Oasis, includes two schools, Matrix International Schools and Wahat Al Alson School, offering international curricula situated in eastern Riyadh, specifically in the Al Salam and Al Manar districts. This acquisition represents a pivotal milestone in Ashmore’s strategy targeting to establish a leading K-12 education platform in Saudi Arabia, addressing the increasing demographic demands and aligning with national reform priorities.

Since its establishment in 2016, the Al Salam campus has offered an American curriculum to both boys and girls, earning a commendable reputation within the local community and targeting full capacity by 2025. In conjunction with the platform's expansion, a new, purpose-built facility in Al Manar has been developed to serve as a brownfield expansion to the fully utilised Al Salam campus and became operational at the beginning of the current academic year 2025-26. The new Al Manar campus has enrolled over 1,800 students in its inaugural year, demonstrating strong demand for high-quality private education in the capital.

The Education Investment Fund hereby announces its second acquisition, following a successful initial acquisition, where it acquired Al Nobala Schools in Riyadh in July 2025. Collectively, these investments lay the groundwork for a scalable education platform that targets to collaborate with as many as five or more school operators across Riyadh, offering both national and international curricula. Ashmore targets to pursue a listing of the education platform on Tadawul by the end of the fund life, contingent on market conditions and regulatory approvals.

Ashmore’s ongoing commitment to education is supported by robust sector fundamentals and substantial governmental backing. Education constitutes the third-largest component of government expenditure, whereby the Ministry of Finance announced the total allocations of approximately SAR 200 billion in the 2026 budget. Structural reforms initiated by the Ministry of Education are enhancing governance, institutional standards, and the sector's long-term sustainability.

In line with Vision 2030, the Kingdom has set ambitious objectives to increase private-sector participation in K-12 education. The participation rate is anticipated to rise from approximately 17% in 2025, representing over one million students in private education, to 25% by 2030, corresponding to an influx of an additional c.850,000 students into private educational institutions. Furthermore, the government intends to establish 1,150 new private schools by 2030, supported by a comprehensive array of incentives, including interest-free loans, land grants, subsidized rents, initiatives to develop curricula, and investments in the welfare of both teachers and students.

Commenting on the acquisition, the CEO, Managing Director and Board Director of Ashmore Investment Saudi Arabia, Ahmed Al Mohaisen,  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, 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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Notes to the editor

About Ashmore Investment Saudi Arabia

Ashmore Investment Saudi Arabia is a Saudi-based capital market institution and is headquartered in Riyadh, licensed by the Capital Market Authority (License No. 14174-22), with a track record of investing across priority sectors aligned with Vision 2030. Ashmore Investment Saudi Arabia is a subsidiary of Ashmore Group plc, one of the world’s leading emerging markets investment firms. Established in 2014, the company is licensed and regulated by the Saudi Capital Market Authority to engage in advising, arranging, managing investments, and operating funds in Saudi Arabia. Ashmore specializes in delivering tailored investment solutions across asset management, private equity markets, fund management, arranging and advisory services, supported by the global expertise of Ashmore Group, which manages significant assets for institutional and individual clients worldwide.

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