DAMAC Group and the Knowledge Fund Establishment have signed a $5.44 million (AED20 million) sponsorship agreement to support the Dubai Schools project.
According to the agreement, DAMAC Group will provide scholarship funding for Emirati students’ tuition fees starting with the 2022-23 academic year.
The agreement is in line with the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to enhance the role of public-private sector partnerships, Wam reported.
The agreement also follows the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, to invest in high-quality education to equip future Emirati generations with the skills and knowledge required to lead Dubai’s knowledge-based economy.
The scholarship funding will support Dubai Schools’ objectives, which include providing state-of-the-art education to help the next generation of students to keep pace with the evolving requirements of the job market.
It will also support Dubai’s efforts to harness advanced science and technological breakthroughs to create a world-class education ecosystem.
The agreement was signed in the presence of Abdulla Al Basti, Secretary-General of Dubai Executive Council and Chairman of the Steering Committee, and Ahmed Abdul Karim Julfar, Chairman of the Knowledge Fund Establishment, at the headquarters of the General Secretariat of the Executive Council.
Shawqi Sajwani, board member of DAMAC Properties, and Abdullah Al Awar, CEO of the Knowledge Fund Establishment, signed the agreement, which aims to establish a sustainable investment infrastructure to enhance the involvement of the private sector in Dubai’s pioneering education sector.
On the occasion of the signing, Al Basti said, “There are clear directives from Sheikh Hamdan bin Mohammed to redouble the efforts to maintain Dubai’s global leadership in vital sectors. Therefore, we are providing our steadfast support to the emirate’s education sector, which is the foundation for building an innovative generation capable of anticipating and capturing future growth opportunities.”
While highlighting that public-private sector partnerships have always been the foundation of Dubai’s success, Al Basti noted that the DAMAC and Knowledge Fund Establishment partnership could act as a launch pad for further development of the emirate’s education sector.
Karim Julfar said the Knowledge Fund Establishment was keen on contributing to developing the emirate’s knowledge-based economy with its private sector partners to ensure that students receive a high-quality education.
Sajwani said partnerships between the public and private sector have long been a key pillar of Dubai’s human, social and economic development and that DAMAC was happy to contribute to this educational partnership and empower the youth of today to face the challenges of the future.
Dubai Schools was established under the directives of Sheikh Hamdan to provide a unique and innovative school education model that enhances values, improves skills and develops the potential of all students.
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