GulfBase Live Support
Diversified investment company, Dubai Investments PJSC has announced $20 million direct investment into Africa Crest Education Holdings [ACE]—an investment company promoting quality education across the African continent.
The investment will fund development of SABIS-operated schools in Africa, with an initial target pipeline of projects in Kenya, Egypt, South Africa, Uganda and Morocco. Dubai Investments subsidiary Al Mal Capital advised DIC on its investment in ACE. Al Mal Capital will also continue to manage the investment in ACE on DIC’s behalf. Investbridge Capital arranged and advised on behalf of Africa Crest Education.
“Dubai Investments is pleased to partner with ACE and SABIS on this project. This is part of the Company’s continued efforts to boost its investments in the education sector and making a foray into the African continent. SABIS has a long-standing history of offering quality schooling and is a respected name in global education landscape and this partnership will go a long way in opening school doors to millions across Africa,” said Khalid Bin Kalban, Managing Director and CEO of Dubai Investments.
Dubai Investments will join founding investors Investbridge Capital (IBC), an independent alternative asset management and advisory firm based in Dubai International Financial Centre; Centum—a leading East Africa’s Investment Company listed on Nairobi and Uganda Securities Exchanges; and SABIS, a 130+ years’ global school operator educating over 70,000 students across five continents in the project.
“Africa Crest Education with its strong ties to SABIS is looking at expanding its school network across the African continent. With a young and growing population, the demand for private education in Africa is increasing, and we are glad that Dubai Investments decided to join ACE making a positive impact through the delivery of a top notch educational system. The upcoming period is auspicious for ACE’s growth; as we benefit from DI’s deep experience and exposure to real estate investments,” said Johnny Harb, the CEO of ACE.
The initial project in Kenya, The SABIS International School—Runda, is currently under construction and now accepting applications for its opening in September 2018. The school will be located on a 80, 000 square-metre campus within Runda neighbourhood in Nairobi providing outstanding, non-selective, co-educational English-medium education serving local and international communities.
“Having Dubai Investments join the Founding Shareholders is a welcomed event and one we believe adds great value to ACE. Dubai Investments is the largest listed diversified investment company listed on the Dubai Financial Market with a market cap of c.$3 billion. Their investment in ACE confirms that strong and robust business execution strategies in the education sector, based on the fundamentals, matched with deeply experienced partners and a well-structured project pipeline will attract the very best institutional investor base,” said Mark DeSario, Co-Founder and Chief Executive Officer of Investbridge Capital and Board member of ACE.
Dubai Investments, a diversified company in which sovereign wealth fund Investment Corporation of Dubai has an 11.54 per cent stake, plans to float at least 30 per cent of its district cooling unit E
Dubai Investments (DIC) said on Monday it plans to invest $20 million (Dh73.5 million) directly into Africa Crest Education Holdings (ACE), which promotes education across Africa.
Dubai Investments PJSC, the leading, diversified investments company listed on the Dubai Financial Market, has announced that the construction of the AED 3 billion Mirdif Hills project, being develop
Operational and financial challenges at Damac Properties, one of the UAE’s biggest listed real estate developers, are expected to continue this year after the company reported a 25 per cent drop in f
The global index provider MSCI’s decision to include Saudi Arabia in its emerging market index is independent of its stock market’s ability to absorb the estimated $100 billion initial public offerin
Ahmed bin Jaffar Al Musalmi, Chief Executive Officer of the National Bank of Oman (NBO), has resigned from his post, the bank confirmed on Thursday.
In a statement released online, the ban
Times of Oman
The Abu Dhabi National Oil Company (Adnoc) has concluded an exclusive agreement with Chemlube, appointing the Switzerland-based company as the exclusive seller of its Group III Base Oil product in Eu
Saudi Aramco, in association with nine local and international organizations, has established the National Power Academy (NPA) to provide the local and regional markets with highly qualified staff.