GFH Capital buys Dubai school for $34m
Dubai, May 18, 2014
GFH Capital, a subsidiary of Bahrain-based Gulf Finance House, has acquired a Dubai-based American curriculum Private School, in a deal valued at $34 million (Dh125 million), said a report.
The Private School offers K-12 education to the population of Dubai and other Northern Emirates. The school currently serves a fast growing base of nearly 1,300 students and has registered in excess of 20 per cent growth in student numbers over the past four years, said a Gulf News report.
Education is a key sector in the Gulf region, where demand for high quality, international standard education continues to expand, said the report.
Commenting on the deal, the managing director Hesham Al Rayes said this investment was in line with GFH Capital’s strategy to acquire cash yielding businesses in defensive sectors in markets with strong growth potential.
"We believe the education sector in Dubai will continue to perform strongly. Increased economic activities, growth in the population of Dubai and increased parental willingness to pay for high quality education make this sector attractive for investment," remarked Al Rayes.
"We will continue to invest in additional cash yielding opportunities with similar growth potential," he added.