Gulf Islamic Investments (GII) has announced its participation in a consortium led by Brookfield Asset Management to acquire a stake in Dubai-based Gems Education.
This strategic investment is set to reinforce Gems' position as the leading private K-12 education provider in the Middle East.
The investment marks GII's second transaction with Brookfield in 2024. Earlier this year, GII sold its majority stake in its UAE logistics business to Brookfield. The funds from this new venture will support Gems in continuing its expansion, which includes the addition of two new schools in Dubai and Abu Dhabi this August. By September 2024, Gems aims to accommodate over 140,000 students across its 46 schools in the UAE and Qatar.
Sunny Varkey, founder of Gems Education, emphasized the company's rapid growth and its role in the region's educational landscape.
"These investments highlight the quality and critical infrastructure we provide collectively for the UAE,"
he stated.
Pankaj Gupta, co-founder and co-CEO of GII, noted that this investment aligns with the UAE's commitment to educational excellence and economic growth.
"Our support will enable Gems to accelerate its growth plans,"
he said.
GII’s co-founder and co-CEO, Mohammed Alhassan, highlighted GII’s extensive investment portfolio across various sectors in the GCC, including education. This latest move underscores GII's ongoing dedication to advancing educational and economic development in the region.
News Source: Khaleej Times
