TECOM Group has acquired an integrated university campus comprising multiple buildings and spanning more than 300,000 sq. ft. in Dubai International Academic City (DIAC), recognizing strong demand for the higher education sector.
This acquisition responds to growing demand from leading international universities for premium educational assets, driven by pioneering government strategies and initiatives, including the National Strategy for Higher Education 2030, Dubai Economic Agenda ‘D33’, and Education 33 Strategy ‘E33’.
Furthermore, it contributes to strengthening the leading role of TECOM Group’s Education Cluster, comprising Dubai International Academic City and Dubai Knowledge Park, which is currently operating at a high occupancy rate of 99 percent.
“This acquisition demonstrates TECOM Group’s commitment to strengthening the higher education sector, thereby contributing to the UAE’s and Dubai’s position as a global hub for education and talent development. Aligned with long-term strategies such as the National Strategy for Higher Education 2030, Dubai Economic Agenda ‘D33’, and Education 33 Strategy ‘E33’, Dubai International Academic City is well-placed to address robust demand from academicians and talent from across the world.”
“This acquisition, part of our expansion strategy, enhances Dubai International Academic City’s ability to unite internationally renowned academic institutions. TECOM Group’s Education Cluster is home to over 85 percent of students enrolled in private higher education institutions across Dubai, and we will actively pursue such growth opportunities to enhance our portfolio of educational assets, to ensure added and sustainable shareholder value,” Belhoul added.
Part of TECOM Group’s strategy to expand and achieve sustainable growth, the $34 million (AED 125 million) acquisition raises its total investments across its Commercial and Industrial portfolio to more than $1.4 billion (AED 5.5 billion) since listing in July 2022.
The Group also intends to enhance and upgrade the newly acquired campus buildings and facilities to ensure the highest quality standards, as per the statement.
