Real Estate Company Acquires University Campus in Dubai

TECOM Group has acquired a university campus in Dubai International Academic City for Dh125 million, expanding its education real estate portfolio. The campus, spanning over 300,000 square feet, includes academic buildings, student housing, and sports facilities. This move aligns with the growing demand from international higher education providers seeking premium facilities in Dubai. TECOM plans to upgrade the site to enhance its Education Cluster, which currently operates at approximately 99% occupancy.

This acquisition supports Dubai's strategic initiatives to expand its education sector, including the National Strategy for Higher Education 2030 and Dubai’s Economic Agenda D33. The purchase is part of TECOM Group’s long-term growth plan, with cumulative investments exceeding Dh5.5 billion since its listing in July 2022. CEO Abdulla Belhoul emphasized the deal's role in positioning Dubai as a global education and talent hub, attracting renowned academic institutions.

TECOM's Education Cluster, encompassing Dubai International Academic City and Dubai Knowledge Park, hosts over 85% of private higher education students in Dubai, highlighting its significant role in the emirate's education landscape. The acquisition was financed through existing resources and followed all necessary regulatory approvals. TECOM will further invest in improving the campus's buildings and facilities.

Dubai International Academic City is home to branches of universities from the Middle East, Europe, and Asia. The wider Education Cluster serves over 38,500 students, offering purpose-built campuses, research spaces, and student housing for both undergraduate and postgraduate programs.