Wednesday 19 December 2018

NBK unit closes $95m Dubai school property deal

DUBAI, October 2, 2017

NBK Capital Partners, the private equity arm of National Bank of Kuwait, said it has completed the acquisition of the Dubai campus of a K-12 international curriculum school in a sale-leaseback transaction.

This comes in line with the firm’s strategy to acquire income-generating real estate assets across the GCC, said a statement from NBK Capital Partners.

The school operator has leased back the campus over the long term and will continue to operate and manage the school.

The real estate investments platform augments the highly successful Private Equity and Private Credit investment businesses at NBK Capital Partners, it stated.

"Our Mena Real Estate platform focuses on aggregating a portfolio of existing income-producing assets and delivering a stable yield to investors," remarked Yaser Moustafa, the senior managing director of NBK Capital Partners.

"We are actively pursuing opportunities in defensive sectors like Education, Healthcare and Logistics across the entire GCC," he added.

Institutional investors continue to invest in private education in Dubai, encouraged by the positive outlook, the transparent and active regulation by the Knowledge and Human Development Authority (KHDA), and the sector’s resilience to economic cycles.-TradeArabia News Service

Tags: NBK | School | Dubai property |

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