Dubai Investments, a leading investment company listed on the Dubai Financial Market, has signed a deal with Lebanon-based non-profit higher education institution University of Balamand, to establish an academic campus at its Dubai Investment Park (DIP).



It will be the first university campus within DIP and will mark the firm's foray into he education sector, said a statement.

The university will offer more than 70 academic undergraduate programmes and masters degree in 55 disciplines currently on offer at its four Lebanon campuses, it said.


The memorandum of understanding (MoU) aims at developing academic and educational co-operation and outlining the proposed framework for the joint initiative.


Khalid Bin Kalban, managing director and chief executive officer of DI, 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, 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. We are delighted to be a part of this collaboration which provides deserving students and dedicated faculty members opportunities and resources for fulfilling their academic dreams.”


The deal comes amid industry study which ranks the UAE as a preferential educational destination for students. UAE has been ranked 15th in terms of quality of education in a World Economic Forum (WEF) list of 148 countries.
 
The Education sector in the GCC is also growing at a fast pace and presents huge growth opportunities. According to Alpen Capital, the total number of students in the GCC region is expected to grow at an average of three per cent between 2013 and 2020 to reach 13.7 million. - TradeArabia News Service