DI forays into education, to open university in DIP

Dubai Investments, an investment company, and the University of Balamand (UOB), a non-profit higher education institution based in Lebanon, have signed a Memorandum of Understanding (MoU) to establish an academic campus within Dubai Investments Park (DIP).

The UOB campus will offer the entire spectrum of 70-plus academic under-graduate programmes and master’s degree in 55 disciplines currently on offer in its Lebanon campuses. The academic facility will also be UOB’s first outside Lebanon where it currently operates four campuses.

The agreement between DI and UOB aims at developing academic and educational cooperation and outlining the proposed framework for the joint initiative.

Khalid Bin Kalban, CEO, Dubai Investments, said: “Over the years, Dubai Investments has carved a niche in a number of business sectors, and our foray into education is a natural extension to our portfolio. Education is one of the fastest growing areas of the UAE economy, driven by a burgeoning population, rising demands for quality education and growing spending propensity.

“The University of Balamand offers a unique model in higher education based on the principles of innovation and learning, to help open exciting career avenues in today's knowledge economy and we are happy to work closely with the experts in the field to facilitate their new campus within DIP.”

Dr. Michel Ibrahim Najjar, Dean – Faculty of Engineering and Vice President for Development, Administration and Public Affairs at The University of Balamand, said: “Our MoU with Dubai Investments is in line with our commitment to prepare students in the UAE and GCC for today’s competitive world by offering the latest technology and business trends through our comprehensive academic programs.”

The UAE is ranked 15th in terms of quality of education in a World Economic Forum (WEF) list of 148 countries.

According to Alpen Capital, the total number of students in the GCC region is expected to grow at a 3 per cent CAGR between 2013 and 2020 to reach 13.7 million. The total number of schools is expected to rise at a 2.4 per cent CAGR from 2013 to 2020, concurrent with the increasing number of students in the GCC.
 

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