Amcreit expands into education: Real estate investment trust Al Mal Capital REIT (Amcreit), a subsidiary of Dubai Investments, has fully acquired K-12 educational firm Carnation Education, according to a press release (pdf). Carnation Education owns the real estate assets of Kent College Dubai, and has been leasing it to the college since 2017 under a 25-year lease agreement for the land and buildings. The investment brings Al Mal’s total assets under management to nearly AED 1 bn.

Part of a diversification plan: “The acquisition has further diversified the asset portfolio by now having assets across various Emirates including Dubai, Sharjah, and Ajman,” Vice Chairman and CEO of Amcreit, Naser Al Nabulsi, said, adding that the K-12 education sector is predicted to experience further grow in Dubai.

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