KAUST announced today a gift from sons of Sheikh Salem Bin Mahfouz and SEDCO Holding Company. The corporate donation will support a research awards program and a teacher outreach training program. Through these programs, the funds will help further the university’s mission of advancing science and technology and addressing the global challenges of our times: energy, water, food and environment.

SEDCO’s gift exemplifies the company’s commitment to corporate social responsibility. The donors recognize that supporting and promoting research at KAUST, as well as encouraging collaboration between Saudi teachers and the university’s faculty and scholars, will be of great benefit to the country as a whole.

Professor Choon Fong Shih, President of KAUST, said: “We are grateful for the generosity of the sons of Sheikh Salem Bin Mahfouz and SEDCO Holding Company. Their pioneering gift will open up research opportunities in areas important to Saudi Arabia and the region. It is also exciting to be able to help expand the horizons of teachers, who can have great impact on educating future generations of leaders, scientists, and entrepreneurs.”

According to Dr. Adnan Soufi, Chief Executive Officer, SEDCO Holding: “The long-term economic growth and diversification of Saudi Arabia does not depend solely upon our natural resources, abundant as they are. Rather, the shape of our future will be determined primarily by the investment we make in our greatest resource – our young people. This partnership with KAUST underlines our long-term commitment to meeting the needs of the next generation in Saudi Arabia.”

Dr. Soufi added, “Today roughly 38 per cent of the Saudi population is under the age of 14, and the average citizen is just 21 years old. The need for high-quality educational provision is therefore acute, as is the need for sustainable job creation.”

“At SEDCO, we have always been committed to playing a central role in the community, and supporting the education sector has long been one of our highest priorities,” he said. “We look forward to working with KAUST to meet these important objectives.”

SEDCO has been actively involved in developing the education sector in Jeddah and Makkah region, in particular, through initiatives such as providing grants to the Saudi institute for Health Services and Dar Al Hikma College, including through the development of an annual scholarship program. The company also works with the Jeddah Chamber of Commerce and the Ministry of Education to enhance the skills of teachers and administrators in the Makkah region.

About KAUST

King Abdullah University of Science and Technology (KAUST) , located on more than 36 million square meters on the Red Sea at Thuwal in Saudi Arabia, is an international, graduate-level research university dedicated to inspiring a new age of scientific achievement in the Kingdom, across the region and around the globe. As an independent, merit-based institution, King Abdullah University of Science & Technology enables top researchers from around the globe and across all cultures to work together to solve challenging scientific and technological problems.

The university was envisaged and founded by The Custodian of the Two Holy Mosques King Abdullah Bin Abdulaziz Al Saud as a new “House of Wisdom” and a beacon for peace, hope and reconciliation to serve the people of the Kingdom and benefit all peoples of the world. The quality and diversity of the first year’s intake of scholars exemplifies these goals. All were chosen on the basis of their academic merit and they come from over 40 nations worldwide.

University Development strives to advance and strengthen the mission of the university by securing sustainable philanthropic support which enables the university to pursue its primary purposes of teaching and research and providing opportunities for donors and funding partners to participate in the life of the university and engage in its future.

About SEDCO

SEDCO, the Saudi Economic and Development Company, is a leading private wealth management organization that conducts its business according to Islamic guidelines widely known as Shari'ah. It manages a wide and diversified spectrum of real estate investments, investments in equities, and other businesses in Saudi Arabia and around the world.

The Organization is dedicated to responsible and ethical practices through strong leadership and strategies. Its experienced management is committed to entrepreneurial excellence, business efficiency and commercial integrity. Through a diversity of investments, SEDCO combines modern money management techniques with Shari'ah guidelines and broadens the opportunities for Muslims worldwide to invest in a socially responsible manner in adherence to their faith.

The Organization is based in Jeddah, Saudi Arabia, and has more than 1,500 employees. It is organized into three business groups: Real Estate, Financial Investments, and Direct Investments.