Post by : Bianca
Haleem
Dubai, UAE – TECOM Group PJSC (DFM: TECOM), a prominent developer in the business district sector, has successfully acquired a comprehensive university campus located in Dubai International Academic City for AED 125 million, thereby fortifying Dubai’s education ecosystem.
Covering more than 300,000 square feet, the newly secured campus comprises multiple educational buildings. This acquisition comes in light of increasing interest from global universities in establishing high-quality educational facilities in Dubai.
This purchase aligns seamlessly with vital UAE and Dubai governmental strategies, encompassing the National Strategy for Higher Education 2030, Dubai Economic Agenda D33, and Education 33 Strategy (E33), all designed to position Dubai as a key global player in education and talent cultivation.
This strategic move significantly contributes to TECOM Group’s Education Cluster, which encompasses both Dubai International Academic City and Dubai Knowledge Park. Currently, the cluster operates at an impressive 99% occupancy rate, accommodating over 85% of students in private higher education in Dubai.
Since its public listing in July 2022, TECOM Group has invested in excess of AED 5.5 billion in its commercial and industrial projects. Additionally, the company has plans to upgrade the newly acquired campus to meet international educational standards.
Abdulla Belhoul, the Chief Executive Officer of TECOM Group, remarked that this acquisition signifies the firm’s dedication to enhancing the higher education sector and assisting Dubai in achieving its long-term development objectives. He mentioned that Dubai International Academic City is strategically poised to attract worldwide academic institutions and talent.
This acquisition has been funded utilizing TECOM Group’s existing resources, while ensuring a strong liquidity position. It has gone through rigorous regulatory procedures, including independent assessments sanctioned by authorities.
Currently, Dubai International Academic City hosts renowned educational institutions like Amity University Dubai, IIM Ahmedabad’s inaugural international campus, University of Birmingham Dubai, American University in the Emirates, and Manipal Academy of Higher Education. The education district caters to more than 38,500 students, offering a range of bachelor’s to postgraduate programs and research facilities within a tailored academic environment.
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