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The Board of Directors of the Knowledge Fund Establishment held their third meeting of the year, reviewing the establishment’s overall performance in the first half of 2024. The establishment succeeded in generatingsignificant investments by allocating educational assetsspanning half a million square feet. The investments mark a 173% surge compared to the first half of 2023.
The establishment’s success in this regard is attributed to a strategy that encouragesinvestors and operators in the educational sector to expand investments in educational assets in Dubaithat will ultimately serve the needs of the emirate’s growing population.
Thenew investments are expected to serve more than 5,000 students once the educational projectsin the pipeline are completed. Theupcoming educational projects will offer Indian and French curricula, with early learning centres also set to open in various parts of the emirate.
The establishment entered into newpartnershipswith several organisations and companies through the first half of the year for several new initiativesto enrich the educational sector in the emirate. It signed a Memorandum of Understanding with the National Bonds Corporation, a leading investment and savings company in the UAE, to launch the ‘Young Investor’ initiative, which aims to enhance financial literacy among students in Dubai Schoolsat an early age by fostering a comprehensive educational environment focused on financial education.
Additionally, the establishment launched the ‘Dubai Distinguished Students Program’ in collaboration with the Knowledge and Human Development Authority (KHDA) and nine private schools in Dubai. In its first edition, the Program aims to provide more than 400 academic seats for outstanding Emirati students across various educational levels for the upcoming academic year (2024-2025), with scholarships covering 50% of the tuition fees.
Commenting on the results, Ahmad AbdulKarim Julfar, Chairman of the Board of the Knowledge Fund Establishment, stated: “The private education sector in Dubai is one of the fastest-growing sectors in the emirate, due to the diverse investment opportunities available. This growth has been further accelerated following the launch of the Dubai Social Agenda 33 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. His vision is to position the quality of education in Dubai among the best in the world.”
He added: “Relying on the establishment's strategy, which is based on studying and understanding investors’ needs, we have succeeded in identifying promising investment opportunities that will serve the educational sector in the future.”
In this context, Abdulla Mohammed Al Awar, CEO of the Knowledge Fund Establishment, said: “Through our strategy, we aim to develop and innovate high-quality initiatives that serve the educational sector in Dubai and enhance its quality, in collaboration with our partners in both the public and private sectors. The educational initiatives we launched in the first half of the year are key to keeping pace with global advancements in education. Our goal is to inspire students and equip them with innovative educational methods to prepare them for the future.”
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