GEMS Education plans $300M investment to drive growth in the UAE

GEMS Education, a well-known school group based in Dubai, has announced plans to invest around $300 million over the next two to three years. The company aims to expand its schools and improve education services across the UAE. According to CEO Dino Varkey, this decision is based on the country’s rapid population growth and an increasing number of wealthy families moving to the UAE.

GEMS Education has set an ambitious goal of adding 30,000 to 35,000 new students by 2028. Varkey made this announcement while attending a conference in Abu Dhabi. He explained that many people from different parts of the world, including both the East and the West, have been relocating to Dubai, creating a strong demand for high-quality schools.

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A key factor in this trend is the recent tax changes in the United Kingdom. The UK government has introduced a value-added tax (VAT) on private school fees and removed the special tax status for wealthy individuals who are not permanent residents. As a result, many high-net-worth families have decided to move to the UAE, where they see better financial and educational opportunities.

“What we are seeing right now is that due to new tax policies in the UK and other parts of Western Europe, more families are choosing to relocate to the UAE,” Varkey said.

Last year, a group of investors led by Brookfield Asset Management put money into GEMS Education. This investment is part of a growing trend where private equity firms are supporting local businesses in the Gulf region.

In addition to its expansion plans, GEMS Education recently launched the GEMS School of Research and Innovation. This new school, which is being called one of the most advanced and high-end schools in Dubai, is set to open in August this year.

The school’s annual fees will range from Dh116,000 for children in Foundation 1 to Dh206,000 for students in Year 13. The cost for Year 6 will be Dh152,000. Maryssa O’Connor, Vice-President of Education at GEMS Education, shared these details in an interview with Gulf News earlier this year.

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