Riyadh: Tatweer Building Company (TBC) the execution arm MoE’s projects, announced the preferred bidder for Wave 1 Schools PPP consisting of 60 public schools in Jeddah and Makkah of the Build, Maintain and Transfer (BMT) track of the Public Private Partnership program. This initiative, to provide educational facilities for public schools, is one of the Educational Sector’s Privatization Program initiatives and will be implemented by MOE is.
TBC said that the Wave 1 of the PPP Program will finance, design, build and facility manage 60 schools. The schools will accommodate more than 50 thousand students in the cities of Makkah and Jeddah.
The construction phase of the project will be for 3 years, followed by 20 years of maintenance provided by the private sector. The preferred bidder is the consortium of Ajyad Knowledge for Education and Training and Al Bawani Company Ltd. The consortium delivered the best financial offer at 86 million riyals (average annual equivalent price) for the total of 60 schools.
TBC, with support from the National Center for Privatization and PPP (NCP), obtained all necessary approvals to award the project and sign the contract. It is expected that the project contract will be signed in the coming weeks and work will start by the end of this year. TBC looks forward to the completion of construction of the first phase in Jeddah within two years and the second phase in Makkah within 3 years from the date of signing of the contract.
It is worth mentioning that TBC had received offers from several investors, although the competition was the first of its kind in the education sector, and this indicates the attractiveness of investment in the sector and the interest of investors.
TBC also mentioned that it aims to announce the results of the RFQ for Wave 2 of the PPP Program to finance, design, build and facility manage 60 schools in Madinah, which will be launched during the coming weeks.
It is worth noting that the schools that will be implemented through this program are public schools under MoE that provide free educational services. The role of the private sector in this project is limited to financing, constructing and facility management. Wave 1 was chosen to be in the cities of Makkah and Jeddah due to the increasing need for educational facilities in the two cities, as well as the MoE's effort to replace rented schools with enhanced educational environment schools in various regions of the Kingdom.
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For more information please contact: media@ncp.gov.sa
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