Dubai Allocates 2.8 Million Square Feet For Development of Educational Assets

The Knowledge Fund Establishment’s investment portfolio in 2023 reached Dh1.01 billion, reflecting a 47.2% increase from the previous year. The establishment allocated 2.8 million square feet of educational assets in Dubai, a substantial rise from 2022, intending to serve over 18,000 students with diverse curricula.

Strategically distributed across various areas in Dubai, these assets cover Nad Al Sheba, Al Barsha, Al Khawaneej, Al Twar, Nad Hessa, Mizhar, Al Nahda, and Al Ruwayyah. The Knowledge Fund prioritizes sustainable growth through diversification and seizing new investment opportunities.

Ahmed Abdulkarim Julfar, Chairman of the Board, highlighted the portfolio’s success, exceeding one billion dirhams. The Knowledge Fund allocated over Dh250 million to support educational initiatives in 2023, emphasizing its commitment to meeting the sector’s needs and promoting sustainability.

CEO Abdulla Mohammed Al Awar stressed attracting investors to Dubai’s education sector. In the first year of its 2023-2025 strategy, the establishment engaged successfully with investors, allocating educational spaces and acknowledging Dubai’s attractive investment value.

Acknowledging partners’ contributions, Al Awar thanked government and private sector partners, including DAMAC Properties, Dubai Islamic Bank, Emirates Islamic Bank, Dar Al Ber Society, Islamic Affairs and Charitable Activities Department, and the Endowments and Minors’ Trust Foundation.

Educational initiatives like ‘Dubai Schools’ reported a 31% increase in student enrollment in 2023 compared to 2022. The project operates under Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum’s oversight, reflecting commitment to empowering future generations.

The Knowledge Fund provided Dh50 million worth of scholarships to over 2,200 students and allocated Dh14 million for scholarships to outstanding Emirati students in 2023. Since 2017, the fund has offered over Dh62 million to support 350 distinguished Emirati students.

In terms of partnerships, the Knowledge Fund collaborated with entities like the Emirates Literature Foundation for the ‘Reading for Pleasure’ initiative and sponsored the Dubai International Academy Model United Nations conference 2023 with Innoventures Education. Additionally, the establishment worked with the Dubai Future District Fund to sponsor the ‘Fund Manager’ Training Programme.

The Knowledge Fund launched its 2023-2025 strategic plan to strengthen Dubai’s position as a global educational investment hub. The plan focuses on enhancing sustainability, efficiently allocating assets, and managing educational initiatives to serve the community.