Riyadh-based BEC Arabia is working on one of the public-private partnerships of developing the Wave 2 schools project. Public-private partnerships are starting to have a significant hallmark in Saudi Arabia’s economic growth. This is due to the fact that they allow major development projects to continue uninterruptedly. The partnerships also ensure that the projects continue without increased stage spending. Construction companies in the Kingdom are noticing and are taking advantage of this developments. This include companies such as BEC Arabia which is currently on a 39.4% completion rate on its current development project.
The Wave 2 schools project was awarded to the company by a subsidiary company to the Ministry of Education. The Tatweer Building company awarded the construction project in May 2022 as the client company. The implementation of the project is in collaboration with the investment company Vision International (Vision Invest). The client company expects the construction of the project to be completed by August 2025. The school project represents the second wave of implementation of the executive program. The program offers a permanent and transfer-oriented path for the development of PPP school projects. This program will finance, design and build 60 public schools over three years. The projects are designed in Medina and will be managed for 20 years after completion.
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The Wave 2 Schools Project will be Pivotal in Shaping Medina’s Educational Landscape
The completion of the Wave 2 schools project will be pivotal in shaping the educational landscape of Medina. The project is budgeted at a scope of $347 million for the completion of the Wave 2 schools project. The 60 schools being constructed will be distributed over 44 sites. They will range from kindergarten to schools. The project covers a built-up area of approximately 160,000 square meters. The project is dedicated to enhancing infrastructure in the educational sector. The aim of the project is to create a conducive environment for learning and shaping the education sector. The project is just one of the many initiatives that BEC Arabia seeks to have impact in the Kingdom’s advancements.
