Banking on Saudi Vision 2030 boost, Ashmore deepens Saudi education exposure

Islamic fund managers are deploying capital into Saudi Arabia’s private education sector enticed by the double-digit sector growth projection fueled by Saudi Vision 2030.

Among the investors is Ashmore Investment Saudi Arabia which has completed its second K-12 acquisition in Riyadh through its Education Investment Fund, adding two campuses under the banner of Project Oasis. The transaction includes Matrix International Schools and Wahat Al Alson School, both delivering international curricula in eastern Riyadh.

The move follows the fund’s July 2025 acquisition of Al Nobala Schools and signals a deliberate platform-building strategy aimed at scaling private education assets into a cohesive institutional portfolio. Ashmore has indicated that its education platform could eventually seek a listing on Tadawul, subject to market conditions and regulatory approvals.

Ashmore’s CEO and managing director, Ahmed Al Mohaisen, said this deal reflects the firm’s confidence in the Saudi private education sector’s long-term growth narrative.

“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,” Ahmed shared.

Such consolidation strategies are increasingly common across Gulf markets, where fragmented school ownership is giving way to professionally managed education networks.

From Ashmore, the expansion aligns with policy targets under Saudi Vision 2030, which aims to increase private-sector participation in K-12 education from roughly 17% in 2025 to 25% by 2030. This transition is expected to bring approximately 850,000 additional students into private education institutions, supported by government incentives including land grants, interest-free loans and subsidized operating costs. The sector represents one of the largest government budget allocations, with roughly SAR200 billion (US$53.33 million) earmarked for education in 2026.

The latest acquisition reinforces a broader Shariah investment trend: private education is emerging as a scalable, income-generating investment theme anchored in long-term demographic growth that has attracted the likes of Alkhabeer Capital and Gulf Islamic Investments.