Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, has led a consortium of investors to fully acquire Kent College Dubai campus through its subsidiary Al Mal Capital PSC in a sale and leaseback transaction. Dubai Investments is the anchor shareholder in the transaction.
The campus has been leased back to the operator for a long term period on a triple net basis to manage and operate the institution. Al Mal Capital structured the transaction along with its co-investment partners. The acquisition is part of Dubai Investments strategy to acquire income-generating real estate assets with a strong focus to expand its presence in the education sector.
“This is a landmark transaction for Dubai Investments as the company enters a new chapter in its long and successful history. The focus is on building its private equity and real estate investment activities in the coming years. This transaction allows Dubai Investments to build on its institutional presence in the real estate sector,” said Khalid Bin Kalban, Managing Director & CEO of Dubai Investments.
Kent College Dubai is operated by a subsidiary of Mir Hashem Khoory LLC, a diversified Dubai based family conglomerate with interest in real estate, education, healthcare, manufacturing among others. “We are delighted to execute this transaction with Dubai Investments and Al Mal Capital. Looking forward to expand this cooperation in the future as we continue to focus on providing world class education through Kent College Dubai in direct collaboration with Kent College Canterbury UK, with future plans to develop more schools across the region,” said Shoaib Mir Hashem Khoory, Managing Director of Mir Hashem Khoory LLC & Chairman of Kent College Dubai LLC FZ.
Kent College Dubai is a premium K-12 British curriculum institution with 2,200 student capacity located in the Nad Al Sheba area of Dubai, UAE. It started its operations in 2016 and is spread over an area of over 560,000 sq. ft. Kent College Dubai is the first international campus of Kent College Canterbury from UK, a 130 years old education institution.
“We are committed to expand our assets under management and execute transactions with committed institutional partners in the income generating real estate space both regionally and internationally. Education sector has lately witnessed increased regional activity and we are pleased to contribute and participate in this unique opportunity,” said Naser Nabulsi, Vice Chairman and CEO of Al Mal Capital.
Al Mal Capital’s Direct Investments team is also working to align its investments with that of its clients to deliver yield and long-term capital gains. The division is focused on private equity and income-generating real estate regionally and internationally.