Mindspire aims to reach 15 schools over three years to tap Saudi’s underinvested market

Mindspire, EFG Hermes’ K-12 education arm, plans to grow to at least 15 schools in Saudi Arabia within three years — targeting three to four additions by next year alone — as it bets on a market it believes is both “under-invested” and fundamentally misread, Regional Commercial Development and Marketing Director Amr Sherif tells EnterpriseAM.

REMEMBER- EFG Hermes launched MindSpire Education as the umbrella brand for its K-12 portfolio across the Arab world earlier this year. The Saudi Education Fund backing the venture has raised more than USD 200 mn against a USD 300 mn target, with more than half already deployed across six schools in roughly a year.

The Kingdom’s education market is under-segmented, not just under-invested, Sherif says. Most investors approach Saudi education as a single market. “It’s actually more than one market — it’s at least four,” according to Sherif. The premium international segment runs on willingness to pay for established curricula and qualified expatriate teachers. Move down the tiers, from mid-market plus to mid-market, affordable plus, and affordable, and the entire value proposition shifts — fee sensitivity, outcome expectations, and the competitive dynamic all change. Capital is not flowing into the segments that match actual demand, Sherif argues.

Where the good prospect sits: The most attractive entry point for investors, in Sherif’s view, is mid-market-plus — prominent, sought-after, and not yet saturated. The affordable-plus segment is a close second — providers can charge incrementally higher fees to aspiring families who want better outcomes for their children, with a value proposition that extends to innovation, technology, teacher training, and career guidance. The premium segment, by contrast, is competitive, capital-heavy, and slow to mature.

The speedbumps to scaling K-12 in Saudi

Operational capability is the biggest obstacle, not capital, Sherif tells us, noting that investors consistently underestimate execution. Recruiting and retaining the right principals and teachers, building the school’s admissions and retention engine, managing curriculum and licensing, navigating international brand partnerships, keeping a close read on parent sentiment — the list is long, and most incoming capital underestimates how much operational depth it takes to scale.

Land and construction costs are the second constraint, according to Sherif. Greenfield development in the Kingdom involves elevated land costs, longer lead times, and delayed returns.

Talent is the third: Securing the right principals and teachers at both the school and operating company levels is a persistent challenge. MindSpire’s answer is building from within — hiring younger staff, developing them through structured professional development programs, and retaining founding teams post-acquisition. The Hayah case is its proof point, with the school’s founding team still running the Riyadh operation today.

What’s next?

For the next three years, the focus is the Kingdom. MindSpire has no plans to expand beyond Saudi Arabia in that window unless a distinct prospect presents itself, Sherif says. The company currently prioritizes groups of schools with growth potential, while remaining open to single-school acquisitions in strategically important locations. It plans to launch the first Riyadh campus for Egypt-born Hayah Schools in the summer of 2027.