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Dubai to get new schools: More than 2.8 million sqft allocated for educational institutions

The assets allocated by the Knowledge Fund Establishment are expected to serve more than 18,000 students in the emirate

The market value of the investment portfolio managed by the Knowledge Fund Establishment reached Dh1.01 billion at the end of 2023, marking a 47.2 per cent increase from the end of 2022. The Establishment allocated more than 2.8 million square feet of educational assets in Dubai for investors and operators in the education sector in 2023, a 211 per cent increase from 2022.

The allocated assets are expected to serve over 18,000 students in the emirate through the forthcoming launch of educational projects including schools and early education centres offering British, Indian, French and American curricula.

The assets cover various geographical areas in Dubai, distributed strategically to serve the largest possible segment of the community. These areas include Nad Al Sheba, Al Barsha, Al Khawaneej, Al Twar, Nad Hessa, Mizhar, Al Nahda, and Al Ruwayyah.

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Sustainable investment portfolio

The Knowledge Fund manages an extensive investment portfolio dedicated to strengthening education and knowledge-based initiatives within the emirate. The Fund’s strategic approach to portfolio management, encompassing investment diversification and the pursuit of new, promising investment opportunities set the stage for the portfolio’s sustainable growth.

Ahmed Abdulkarim Julfar, Chairman of the Board of the Knowledge Fund Establishment, said: “The market value of the Knowledge Fund Establishment’s investment portfolio has exceeded one billion dirhams, in a clear indication of the effectiveness and positive impact of our strategy to manage the Fund. These investments will play a significant role in meeting the education sector’s needs, supporting educational initiatives, and driving sustainability in the sector across the emirate.”

“The Knowledge Fund Establishment provided more than Dh250 million to support educational initiatives in the emirate in 2023,” Julfar added.

Abdulla Mohammed Al Awar, CEO of the Knowledge Fund Establishment, said: “The Knowledge Fund Establishment is committed to attracting investors in the education sector, which benefits from top-quality services provided by Dubai. In the first year following the launch of its 2023-2025 strategy, the Establishment successfully engaged with investors to attract financing for educational activities and encourage them to invest in educational assets. This was evident in the educational spaces that were allocated to investors in 2023, underscoring the emirate’s attractive investment value.”

Al Awar applauded the Fund’s partners for their contributions to the educational sector in the emirate, saying: “We thank our partners in the government and private sectors, as well as the main supporters of the ‘Dubai Schools’ project, namely, DAMAC Properties, Dubai Islamic Bank, Emirates Islamic Bank, Dar Al Ber Society, the Islamic Affairs and Charitable Activities Department, and the Endowments and Minors’ Trust Foundation (Awqaf Dubai) for their valuable contributions, which had a significant impact on enhancing the quality of education in Dubai.”

Educational initiatives

Educational initiatives managed by the Knowledge Fund Establishment, including ‘Dubai Schools’ with its three branches (Mirdif, Nad Al Sheba, and Al Barsha), have recorded significant achievements this year, reporting a 31 per cent increase in student enrolment compared to 2022, with a total of 2,580 new students from 38 nationalities. This increase reflects the growing interest from families in the emirate to enrol their children in Dubai schools to benefit from the exemplary educational environment they provide.

The ‘Dubai Schools’ project operates under the oversight of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai. This demonstrates His Highness’s commitment to empowering future generations, meeting their requirements, and enabling them to innovate and positively contribute to shaping the future.

The Fund also offered Dh50 million worth of scholarships to over 2,200 students in Dubai schools across various academic stages, who met the eligibility criteria in 2023.

On a similar note, the Knowledge Fund allocated more than Dh14 million for scholarships to outstanding Emirati students under the Mohammed Bin Rashid Distinguished Students Programme in 2023. The Establishment has offered over Dh62 million to support a total of 350 distinguished Emirati students since the Programme’s launch in 2017.

Knowledge partnerships

In terms of partnerships, the Knowledge Fund Establishment sought to strengthen collaboration with various government and private entities to support the education sector in the emirate, signing a memorandum of understanding with the Emirates Literature Foundation to launch the ‘Reading for Pleasure’ initiative, which aims to promote a love of reading among students by implementing an integrated strategy in schools across the emirate.

The Fund also signed an MoU with Innoventures Education to sponsor the Dubai International Academy Model United Nations conference 2023. A leading event for knowledge exchange, the conference drew school students from around the world with the aim of helping participants enhance their diplomatic abilities and learn the art of managing discussions effectively.

The Establishment also collaborated with the Dubai Future District Fund to sponsor the ‘Fund Manager’ Training Programme, one of the world’s most prominent interactive practical programmes focusing on investment portfolio management, offering an in-depth learning experience on how to develop an integrated strategy for managing investment funds.

The Knowledge Fund Establishment launched its 2023-2025 strategic plan at the beginning of last year, with the primary aim of strengthening Dubai’s position as an attractive hub for global educational investments. The Establishment set ambitious strategic goals focused on enhancing sustainability within the investment portfolio it manages, while meeting the needs of investors in the education sector by efficiently allocating assets and managing educational initiatives in the emirate to serve the community.