RIYADH, 2 April — The launch of a $100 million world class university project in Riyadh that will promote basic knowledge as well as applied research and development in collaboration with business and industry was announced here yesterday.
Dar Alfaisal University, which will be erected up at the sprawling King Faisal Palace next year, will be a joint venture involving the King Faisal Foundation and Stevens Institute of Technology, a 130-year-old private American university, with corporate support from Boeing Company of the US and BAE Systems of the UK. Leading Saudi business companies and the King Faisal Specialist Hospital and Research Center have also lent their support.
The launch function was attended by Prince Khaled Al-Faisal, governor of Asir and managing director of the King Faisal Foundation, Prince Abdullah ibn Faisal ibn Turki, governor of General Investment Authority, Philip Condit, chairman and CEO of Boeing Company, Dr. Harold J. Raveche, president, Stevens Institute of Technology and co-chairman of Dar Alfaisal Alliance for Business and Technology, as well as a distinguished gathering of princes and leading businessmen.
It was announced that leading business houses have pitched in with financial support for the university.
The King Faisal Foundation has allocated 130,000 square meters of the palace grounds for the university. The campus will be built on these grounds, which have a market value of SR400 million.
Speaking on the occasion, Prince Khaled Al-Faisal said the foundation, since its inception 25 years ago, had opted for education and knowledge as the main thrust of its activities. With this vision in mind, the Dar Alfaisal University would strive to provide quality education to the students and enable them to improve their standards.
Philip Condit said Boeing had invested $2.5 million in the university project. “More than that our technical expertise and skills will contribute to the university as well,” he added.
Prince Abdullah ibn Faisal paid tributes to the King Faisal family for their pioneering role in promoting quality education in the Kingdom.
He said that as a co-chairman of Dar Alfaisal Alliance for Business and Technology he could reach out to the private sector and pool their resources for bringing about qualitative changes in the educational sector.
Dr. Abdulrahman Al-Harakan, project director and chief academic officer, said the curriculum has been designed to allow students to learn and gain competence in English and Arabic languages, oral and written communication skills, teamwork abilities. It will stress work ethics and promote problem-solving abilities.
The university will initially admit 130 students in the first term, gradually increasing admission to about 1,600 undergraduate students in the sixth year.
