RIYADH: Riyadh Development Company has signed an agreement with the Mohammed bin Salman Foundation for the construction of educational facilities over the next 25 years, the Saudi Press Agency reported on Tuesday.
The agreement was signed by RDC CEO Jihad bin Abdul Rahman Al-Qadi, and Dr. Badr bin Hamoud Al-Badr, Misk’s CEO.
The two sides will begin by developing an educational complex on 22,000 square meters of land owned by RDC subsidiaries.
Al-Qadi said that the agreement was part of the company’s strategy to establish partnerships focused on qualitative real estate development projects. It will also contribute to maximizing the overall return to shareholders by focusing on investing in development projects that provide a long-term source of income.
Al-Badr spoke of the importance of supporting education by creating a stimulating atmosphere for learning that adopted the best teaching practices.
The agreement hopes to facilitate a rise in the percentage of student spaces available to help meet the increase in demand for schools as the Kingdom’s population grows.
