Gems Education to spend USD 300 mn on growth over next few years

Gems Education to invest USD 300 mn in growth plan: Dubai-based school operator Gems Education plans to invest USD 300 mn over the next two to three years to drive growth, CEO Dino Varkey told Reuters. The company aims to expand its student headcount by 30k–35k by 2028 while considering future acquisitions.

The expansion is fueled by Dubai’s growing population and an influx of wealthy individuals, Varkey said. The UAE was a leading destination for high-net-worth individuals in 2024, with the number of m’naires projected to reach 232.1k in 2028. Tax reforms in the UK and Western Europe are prompting more affluent families to relocate to the UAE, boosting demand for premium education.

REMEMBER- The school operator secured an investment last year from Canadian asset manager Brookfield, which handed it a majority stake in the firm. The transaction could be valued at some USD 2 bn and is expected to target expanding Gems’ portfolio by undertaking new acquisitions.

The education player is expanding its footprint: The company will open the Gems School of Research and Innovation in August 2025, investing USD 100 mn in the project. Expected to be Dubai’s most expensive school, annual tuition fees could reach USD 56k. In May 2024, the company also launched a new branch of GEMS Founders School in the Dubai South Residential District.