Dubai’s GEMS says JV completes acquisition of Saudi’s largest education company

Dubai-based school operator GEMS Education said its joint venture in Saudi Arabia had completed the acquisition of Ma’arif, the largest education company in the kingdom.

Ma’arif, established in 1971 in Saudi Arabia, has more than 13 campuses across the kingdom and more than 20,000 students enrolled, a statement said.

The value of the transaction, which was first announced in May, was not disclosed.

Read: UAE’s GEMS, Hassana acquire Saudi’s largest private school operator

The joint venture, GEMS Education KSA, is co-owned by Hassana – the investment arm of Saudi Arabia’s General Organisation for Social Insurance. It was formed in May 2019 with the aim to invest in the education sector in Saudi Arabia.

Under terms of the JV, GEMS Education and Hassana plan to build a portfolio of more than 50 schools and provide education to more than 100,000 students across Saudi.

Saad Alfadly, chairman of the joint venture company, GEMS Education KSA, said: “We look forward to working with teachers, students and parents who are currently enrolled in Ma’arif schools and we are excited about welcoming new families.”

GEMS Education is one of the world’s largest K-12 private education providers, and currently owns and operates more than 50 schools with over 124,000 students in the MENA region.