Kent College Dubai is acquired in a sale and leaseback transaction
Dubai Investments has led a consortium of investors to acquire Kent College Dubai campus through its subsidiary Al Mal Capital in a sale and leaseback 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, the company said in a statement.
It added that the acquisition is part of Dubai Investments' strategy to acquire income-generating real estate assets with a strong focus on 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,” said Khalid Bin Kalban, managing director and CEO of Dubai Investments.
Kent College Dubai, the first international campus of Kent College Canterbury from UK, is operated by a subsidiary of Mir Hashem Khoory. It 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.
“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.