KUALA LUMPUR: Khazanah Nasional Bhd is acquiring a 10% stake in Oriental University City Ltd (OUCL) from Singapore's listed Raffles Education Corporation Ltd for 300 million yuan (USD44 million or RM150 million).

The investment will be made via Khazanah's wholly-owned subsidiary, Rawa Investments (Cayman Islands) Ltd.

OUCL, through its subsidiaries, owns Oriental University City - a 3.31 million square metre self-contained campus located in Langfang, Hebei Province, China.

Khazanah said this flagship project is strategically located within an hour's drive from two of the most affluent and populous cities in China - Beijing and Tianjin, which combined population is approximately 28 million.

OUC currently houses and provides education services to 16 colleges with a total student population of approximately 36,000. OUCL focuses on the vocational education segment, which is a large yet under-served education segment in China.