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Amanat Holdings PJSC (Amanat), the GCC’s largest healthcare and education investment company, has completed the acquisition of the real estate assets of North London Collegiate School (NLCS) Dubai, a premium International Baccalaureate curriculum school.
Amanat has purchased the real estate from PNC Investments, the parent company of the Sobha Group, for AED 360 million. Additionally, Amanat has committed up to AED 45 million towards the school’s future expansion plans.
Located on a 38,000 square meter plot in the Sobha Hartland development at Mohammed bin Rashid Al-Maktoum City, NLCS Dubai’s campus offers a wide range of amenities including 8 science laboratories and state-of-the-art performing arts center, as well as an array of sporting facilities including tennis courts, a cricket/rugby field and two indoor swimming pools.
NLCS Dubai is the second overseas campus of NLCS, a leading independent day school founded in 1850 and located in Edgware, London. The London school has a key role in recruiting and training teaching staff at NLCS Dubai, with regular monitoring visits and inspections as well as substantial links between pupils and teachers across the schools.
Hamad Abdulla Alshamsi, Chairman of Amanat, commented: "This acquisition is in line with our corporate strategy to broaden our capabilities while building on Amanat’s strong sector expertise in healthcare and education. This is the first social infrastructure transaction for Amanat and we are confident it will allow us to enhance returns for shareholders. Additionally, it enables Amanat to continue supporting the education sector in the UAE and contributing towards our people’s prosperity."
Dr. Shamsheer Vayalil, Vice Chairman and Managing Director of Amanat, said: "Investing in the GCC’s K-12 private education market is highly attractive; especially in the UAE, where expatriate families, a young population and growing interest from middle and higher income citizens are expected to increase demand for private school enrolment. By entering into a sale and leaseback of NLCS Dubai, Amanat is investing in a high-quality asset that will generate long-term, secure cash flows and balance our portfolio across a diverse range of asset classes."
Amanat’s investment strategy is focused on significant minority or majority stakes in high-quality, high-growth potential companies exclusively in the healthcare and education sectors across the GCC and beyond.
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