Capital and institutions chase Gulf private schooling as EFG and top UK school expand

Two moves this week from opposite ends of the world point the same direction: capital and institutions are chasing GCC demand for private schooling.

#1- Egypt-based EFG Holding is planning to put more than USD 150 mn into Saudi private education over the next two years, according to reports citing Group Co-CEO Karim Moussa. The firm is planning to expand its Hayah International Academy brand in the Kingdom this year, weighing two more school acquisitions, and entering the nursery business within two years. EFG Holding's USD 300 mn Saudi Education Fund has already deployed USD 125 mn across six schools

#2- A top UK state school is opening in Dubai next month: Queen Elizabeth’s School in Barnet, one of the UK’s top-performing state schools, will open its first overseas campus in the emirate next month, becoming the first government-funded British school to expand internationally, the Financial Times reports. Annual tuition at QE Dubai will cost just under GBP 28k, slightly higher than Harrow International School Dubai. The overseas expansion is designed to generate new revenue as UK public funding comes under pressure. Since state money cannot be used, the Dubai campus is being launched through the school’s charitable foundation in partnership with UK education company GEDU Global Education.

Headmaster Neil Enright said Dubai was a natural choice given its strong demand for British education, large Indian community, and growing network of QE alumni living in the UAE. He added that several other UK state schools have already expressed interest in pursuing similar international expansion.

Locking in supply

Two partners in Israel’s Tamar gas field signed a non-binding MoU with an unnamed Egyptian buyer for a potential USD 20 bn contract, which would mark the offshore field’s third long-term supply agreement with Egypt, according to an Israeli stock exchange filing from Israeli producer Isramco and reporting by Mees (pdf). Isramco and Abu Dhabi’s Mubadala Energy signed on to supply up to 80 bcm from Tamar between 2031 and 2038, extending automatically through 2043 if the lease is renewed.

The USD 20 bn figure needs unpacking. Isramco’s filing puts its own take at USD 5.75 bn on its 28.75% stake. Grossed up across the consortium, that implies roughly USD 20 bn — but only if every Tamar partner signs on. Isramco and Mubadala hold just 39.75% together; the other four partners (Chevron, Tamar Petroleum, Union Energy, Dor Gas) haven’t publicly signed on. Mees reports the buyer isn’t Blue Ocean Energy, suggesting Tamar’s partners have lined up a different Egyptian counterparty.

Pricing would remain linked to Brent crude, include a price floor, and retain take-or-pay provisions. The deal implies an average realized price of some USD 7 per MMBtu over its lifetime, Mees said, coming in above the USD 5.5/MMBtu Egypt paid on average for gas imported from Tamar and neighboring Leviathan field. This would follow a 25.3 bcm contract signed with Dolphinus in 2018 and a further 43 bcm agreement signed in 2024 tied to Tamar’s production expansion.

Prepping the pitch

Saudi Binladin Group began redeveloping the King Fahd Sports City Stadium to prepare for hosting the 2034 FIFA World Cup, according to a LinkedIn announcement. The project will modernize the stadium to FIFA standards, increasing capacity to around 70.2k seats while upgrading infrastructure and facilities.

REMEMBER- The government controls over 92% of SBG’s parent company Binladin International Holding Group (BIHG), as the Kingdom counts on this ownership to successfully deliver national construction projects related to Expo 2030 and the 2034 World Cup. The company previously obtained a SAR 2 bn loan in April 2025 to develop King Fahd Sports City.