Dubai’s Amanat launches new brand, establishes office in Riyadh

Amanat Education, a 100% owned subsidiary of the Dubai-listed Amanat Holdings, announced the launch of its new brand Almasar Alshamil Education and the establishment of its office in Riyadh.

According to the company’s statement, Almasar Alshamil Education, formerly known as Amanat Education, is an educational company operating in two main sectors: education and care for people of determination through the Human Development Company (HDC), and higher education through Middlesex University Dubai and Nema Holding in Abu Dhabi.

Until September 30, 2024, the company provided its services to more than 23,000 students and beneficiaries across 35 daycare centers and 10 schools for people of determination in the Kingdom, as well as three universities in the UAE.

The new senior management team, led by Majed Al-Mutairi as CEO, will lead the growth strategy of Almasar Alshamil Education. The strategy aims to increase enrollment in the higher education sector, expand specialized educational services, and explore opportunities for expansion in existing services, including regional growth in higher education offerings.

The board of Almasar Alshamil Education is chaired by Shamsheer Vayalil, Chairman of Amanat Holdings, with Kamal Bahamdan, CEO and Founder of Safanad, as Vice Chairman.

In addition, the board includes Ali Aldhaheri (Chairman of Nema Holding), Dhafer Al Ahbabi (Chairman of Al Ramz Corporation PJSC), Fawaz Goth (CEO of the Event Infrastructure Fund), Muhannad Aldawood (Chief Strategy Officer at Qiddiya), Abdulwahab Alhalabi (Managing Director at Embassy Capital), John Ireland (CEO of Amanat Holdings) and Fadi Habib (Chief Investment Officer of Amanat Holdings).

For the nine-month period ended September 30, 2024, 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%.