Dubai, United Arab Emirates,-– Colliers, a leading diversified professional services and investment management company specialised in real estate, healthcare, education and PPP advisory and valuation services issued its latest white paper on Saudi Arabia’s higher education market titled ‘Higher Education in KSA: Changing Demand in line with Vision 2030, the 12th in the Knowledge Series’.
This paper focuses on Saudi Arabia’s higher education sector, its projected growth by 2030, the new market opportunities it presents and the expected increase in private sector participation. Following the introduction of the Vision 2030, the largest single education market in the Arabian Gulf region is undergoing fundamental transformations in attempts to align higher education outcomes with the current and future requirements of the employment market, bringing about new opportunities for investors, operators and developers. Based on Colliers’ estimations, the total demand for higher education will reach 2.8 million seats in 2030, compared to an estimated 1.97 million seats in 2022, an additional demand of more than 900,000 new seats in the Kingdom by 2030.
Mansoor Ahmed, Executive Director Advisory Services at Colliers, MEA Region, highlighted: “As economic transformation and diversification programs under Vision 2030 and the Saudization drive are expected to spur demand for higher education, Colliers foresee a shift in demand from traditional offerings towards Artificial Intelligence (AI), Robotic Sciences, Nuclear Energy, Sustainable Energy, Renewable Energy, Solar Energy etc. The demand is expected to shift towards evidence-based Research & Development (R&D) studies taking into consideration the economic transformation agenda under Vision 2030 and the changing market dynamics, rather than traditional fields of study to overcome the “mis-match’ between the degrees, skills and requirements of the employment market.
He further highlighted, “The private sector in the Kingdom should open branch campuses of international universities, especially targeting ones that currently host most of the Saudi students in their country of origin. Meanwhile, it is important that regulators look to maintain a balance between public and private sector provisions to ensure quality education for all and remain cognizant of the income disparity”.
Colliers’ Development Solutions team is actively assisting several local, regional and international investors and operators in Saudi Arabia to facilitate the development of not only greenfield / brownfield projects and the redevelopment / regeneration of existing higher education facilities, but also to assist investors and operators in exploring various investments options to develop the higher education market in KSA.