Riyadh, Saudi Arabia, 9 March 2025: Amanat Education announces the launch of its new brand, Almasar Alshamil Education (“Almasar Education” or the “Company”), and the establishment of its office in Riyadh led by a recently appointed highly experienced senior management team.

New Brand: AlMasar AlShamil

• Almasar Education is a leading provider of specialist education in the GCC and as the largest Special Needs Education (“SEN”) provider in Saudi Arabia and the top provider of Higher Education in the UAE, is committed to driving social impact by making specialized education more inclusive and expanding reach
• Highly experienced senior management team appointed led by Majed Al-Mutairi as Chief Executive Officer supported by Ahmad Gamal as Chief Financial Officer and Fadi Habib as Managing Director
• Office established in Riyadh, Saudi Arabia, demonstrating strong commitment to the regional education sector and to drive growth opportunities
• Board meeting held chaired by Dr. Shamsheer Vayalil with Kamal Bahamdan as Vice-Chairman to evaluate Almasar Education’s strategic options
• Strong operating and financial track record with student and beneficiary enrolments doubling between 2020 and 2024 to nearly 23,000 and a revenue CAGR of 57% between 2021 and 2023 and EBITDA CAGR of 44% over the same period, with underlying growth significantly outpacing overall sector growth
• Well-defined growth strategy in place focusing on network and services expansion in the SEN segment through Human Development Company and increasing enrolments in the Higher Education segment through Middlesex University Dubai and NEMA Holding

Almasar Education, formerly Amanat Education, is a market leading education company operating in two key business segments: Special Education Needs through Human Development Company (“HDC”), the region’s largest SEN network, and Higher Education through Middlesex University Dubai and NEMA Holding in Abu Dhabi, the largest private university in Dubai and university group in Abu Dhabi, respectively.

As at 30 September 2024, Almasar Education served more than 23,000 students and beneficiaries across its 35 daycare centers and ten SEN schools in Saudi Arabia and three universities in the UAE.  For the nine-month period ended 30 September (“9M 24”), Almasar Education reported revenue growth of 27% YoY to SAR 271.6 million with an EBITDA of SAR 121.3 million, a margin of 45%.

Almasar Education is committed to driving social impact through the development of the region’s education sector. The Company strives to improve the quality of specialized education to underserved sectors while simultaneously making it more accessible and affordable for children and young adults. Aligned with the national objectives of Saudi Arabia and the UAE, Almasar Education contributes to the growth of the region’s skilled human capital.

The new senior management team, led by Majed Al-Mutairi as Chief Executive Officer, will be responsible for driving Almasar Education’s ambitious growth strategy and creating a positive social impact across both SEN and higher education, building on the Company’s strong track record and market-leading position. Almasar Education’s growth strategy is focused on expanding its network and service lines in the SEN segment, growing enrolments in the higher education segment and exploring the expansion of existing service lines, including potential regional expansion of its higher education offering.

Almasar Education’s Chairman, Dr. Shamsheer Vayalil, said:

“We are pleased to launch our new brand Almasar Alshamil Education and to confirm our ambitious growth strategy. Almasar Education operates market-leading education businesses across Special Education Needs and Higher Education, all of which have seen significant growth and now serve over 23,000 students and beneficiaries across Saudi Arabia and the UAE. By establishing the Company’s headquarters in Riyadh and appointing a world-class management team, Almasar Education is positioned to support regional governments towards the realization of their education goals and to capitalize on the tremendous growth opportunities across the GCC.”   

Almasar Education’s Chief Executive Officer, Majed Al-Mutairi, added:

“I am pleased to join Almasar Alshamil Education at this exciting stage in the company’s journey. With a clear and well-defined strategy in place, we plan to build on our strong financial performance and drive Almasar Education’s growth by increasing our network of centers in the SEN segment, expanding higher education enrolments and exploring opportunities to expand our offerings into promising areas such as residential SEN and potential new higher education campuses in the GCC. Almasar Education has seen positive operating momentum in 2024 and with a proven track record of growth, we are well-positioned to cement our position as the GCC’s leading specialized education provider focused on providing high-quality, inclusive education and human capital development whilst also prioritizing positive societal impact and successful outcomes, in line with the region’s education ambitions.”

Majed Al-Mutairi has over 30 years of executive experience, having previously worked as the Chief Executive Officer of Caretech-UK MENA Social Care between 2021 and 2024 and as the Chief Executive Officer of GEMS Education KSA, between 2017 and 2021, a leading private school group in UAE.

Ahmad Gamal brings over 30 years of expertise in financial management, corporate strategy, and investment banking. Ahmed has held senior leadership roles at major global companies, including Cadbury, PepsiCo, and Lundbeck. His extensive experience also includes CFO positions at Egypt Foods Group, Cleopatra Hospitals Group, and most recently, as Group CFO at Magrabi Hospitals.

The Almasar Education board is Chaired by Dr. Shamsheer Vayalil, Chairman of Amanat Holdings PJSC, with Mr. Kamal Bahamdan, CEO and Founder of Safanad as Vice-Chairman. Other board members include, Dr. Ali Aldhaheri, Chairman of NEMA Holding, Mr. Dhafer Alahbabi, Chairman of Al-Ramz, Mr. Fawaz Goth, Acting CEO of Event Investment Fund, Mr. Muhannad Aldawood, Chief Strategy Officer of Qiddiya, Mr. Abdulwahab Alhalabi, Managing Director at Embassy Capital, John Ireland, CEO of Amanat Holdings PJSC and Fadi Habib, Chief Investment Officer of Amanat Holdings PJSC.