TECOM Group Expands with AED 125 Million Campus Purchase in Dubai

Post by : Bianca Suleiman

Dubai, UAE – TECOM Group PJSC (DFM: TECOM), a prominent developer of specialized business environments, has made a strategic acquisition of an integrated university campus in Dubai International Academic City for AED 125 million, bolstering the higher education framework of Dubai.

The new campus covers an extensive area of over 300,000 square feet, featuring various buildings. This acquisition is a response to the increasing demand from global universities for premium educational facilities in Dubai.

This strategic move is in line with essential UAE and Dubai government initiatives, such as the National Strategy for Higher Education 2030, Dubai Economic Agenda D33, and the Education 33 Strategy (E33), aimed at establishing Dubai as a top-tier global educational center.

The investment significantly strengthens TECOM Group's Education Cluster, which encompasses Dubai International Academic City and Dubai Knowledge Park. Currently, this cluster enjoys an impressive 99% occupancy rate and serves over 85% of students enrolled in private higher education institutions in Dubai.

Since its public listing in July 2022, TECOM Group has committed over AED 5.5 billion to its commercial and industrial ventures, with plans to upgrade the newly acquired campus to meet outstanding international quality standards.

Abdulla Belhoul, the Chief Executive Officer of TECOM Group, commented on the acquisition, stating that it underlines the company’s dedication to enhancing the higher education sector and supporting Dubai’s developmental ambitions. He echoed that Dubai International Academic City effectively appeals to academic institutions and talent globally.

This acquisition has been funded through TECOM Group’s current resources while retaining a robust liquidity and leverage framework. The transaction adhered to stringent regulatory and governance protocols, including independent assessments sanctioned by regulatory bodies.

Dubai International Academic City is home to renowned global universities including Amity University Dubai, IIM Ahmedabad’s first international campus, University of Birmingham Dubai, American University in the Emirates, and Manipal Academy of Higher Education. The education district currently supports over 38,500 students, providing programs from bachelor’s to postgraduate degrees, along with research facilities and student housing within a dedicated educational setting.