Dubai-based GEMS Education is reportedly seeking to raise between $650m and $1bn to build more than 20 new schools over the next three years.
The world’s biggest privately owned provider of school education is raising funds from debt, equity and real estate partnerships to build 21 new schools, including in the US and UK, CEO Dino Varkey said in an interview with Bloomberg.
For-profit GEMS, which operates more than 60 schools and colleges worldwide, will also use money raised to boost capacity at 10 existing institutions, Bloomberg said.
“There is a significant amount of demand in the UAE, but also huge demand across Africa, across east and south Asia,” Varkey was quoted as saying.
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