Living off compound

Lots of people are staying in Dammam and travelling on daily basis to Ras tanura. Although you'll find very calm and quite residential area in Ras tanura but if your kids are school going and you really want to put them in decent school then you need to stay in Dammam.

My experience of schools in Dammam is quite good. There are plenty of schools there and it depends on your affordibility. I've been in Dammam for last 15 years. I'm in Riyadh these days but my family is in Dammam, just to complete their school session. ISG Dahran, ISG Dammam, Al Hussaan etc are the top schools there costing between SR 2500 to 4500 per month. Other schools ranges between 500 to 2000. There are several embassy schools as well. Indian, French are good ones.

Quality of housing depends on the location. It is quite affordable compared to Riyadh where I'm staying these days.

Suggestions: If you are still in your home country then get your driving licence with you. This will help getting your driving licence here more easily and quickly.
Don't take residence in the centre of Dammam which has quite busy routes. If you wish to take compound then these are mostly available in Khobar area or on Dammam Khobar Highway. List is available (again the question of availibilty as plenty is available with different pricing)