TECOM Group Acquires AED 125 Million University Campus in Dubai

Dubai, UAE – TECOM Group PJSC (DFM: TECOM), a prominent developer of specialised business districts, has successfully acquired a comprehensive university campus in Dubai International Academic City for a sum of AED 125 million, further enhancing Dubai’s higher education framework.

Spanning over 300,000 square feet, this new campus encompasses various structures. The decision comes in light of the rising demand from global universities desiring premium educational facilities in Dubai.

This strategic acquisition aligns well with pivotal UAE and Dubai governmental initiatives, such as the National Strategy for Higher Education 2030, the Dubai Economic Agenda D33, and the Education 33 Strategy (E33), all aimed at establishing Dubai as a global education and talent hub.

Moreover, this investment boosts TECOM Group's Education Cluster, which already includes Dubai International Academic City and Dubai Knowledge Park. The cluster boasts an impressive occupancy rate of 99%, accommodating over 85% of students enrolled in private higher education institutions within Dubai.

Since going public in July 2022, TECOM Group has invested upwards of AED 5.5 billion in its commercial and industrial ventures. Plans are also in place to upgrade the newly acquired campus to align with the highest international standards.

In remarks regarding the acquisition, Abdulla Belhoul, the Chief Executive Officer of TECOM Group, indicated that this move signifies the company's dedication to fortifying the higher education landscape and supporting Dubai's long-term developmental objectives. He noted that Dubai International Academic City is optimally positioned to draw academic institutions and talent from around the globe.

The acquisition was financed through TECOM Group’s existing resources while ensuring a robust liquidity and leverage stance. It also underwent rigorous regulatory and governance protocols, including independent assessments sanctioned by regulatory bodies.

Home to globally recognized institutions such as Amity University Dubai, IIM Ahmedabad’s first international campus, University of Birmingham Dubai, American University in the Emirates, and Manipal Academy of Higher Education, Dubai International Academic City currently serves over 38,500 students by offering a range of bachelor’s to postgraduate programs, research facilities, and tailored student accommodation within a designed academic setting.