Post by : Badri Ariffin

Dubai, UAE – TECOM Group PJSC (DFM: TECOM), a prominent developer of specialized business districts and communities, has secured an integrated university campus in Dubai International Academic City for AED 125 million, thereby enhancing Dubai’s higher education framework.

The newly acquired site spans 300,000 square feet and comprises several buildings. This acquisition is a response to the increasing demand from global universities for premium educational facilities in Dubai.

This strategic move aligns with significant UAE and Dubai government initiatives, including the National Strategy for Higher Education 2030, Dubai Economic Agenda D33, and the Education 33 Strategy (E33), all aimed at establishing Dubai as a worldwide leader in education and talent cultivation.

This investment further enriches TECOM Group’s Education Cluster, which encompasses Dubai International Academic City and Dubai Knowledge Park. Currently, the cluster operates at an impressive 99% occupancy rate and hosts over 85% of students enrolled in Dubai's private higher education institutions.

Since its public listing in July 2022, TECOM Group has invested upwards of AED 5.5 billion across its commercial and industrial sectors. The group also intends to modernize and upgrade the newly acquired campus to meet the highest global standards.

In commenting on this acquisition, Abdulla Belhoul, Chief Executive Officer of TECOM Group, stated that the decision signifies the company’s dedication to nurturing the higher education sector and supporting the long-term development objectives of Dubai. He remarked that Dubai International Academic City is ideally positioned to draw academic institutions and talent from across the globe.

The acquisition was financed through TECOM Group’s existing resources while keeping a robust liquidity and leverage stance. This was concluded in accordance with stringent regulatory and governance protocols, including independent evaluations validated by regulatory authorities.

Dubai International Academic City is home to internationally acclaimed universities such as Amity University Dubai, IIM Ahmedabad’s inaugural international campus, University of Birmingham Dubai, American University in the Emirates, and Manipal Academy of Higher Education. This education district currently accommodates over 38,500 students, providing programs from bachelor’s to postgraduates, comprehensive research facilities, and student housing within a tailored academic setting.

#Global News #Business News