|May 21, 2008
Zabeel Capital partners with ANC to form Education Investment Company
AED300 million earmarked for initial education investments through Kings' Holdings
Dubai, May 21, 2008: Dubai-based Zabeel Capital has partnered with ANC Holdings LLC to form Kings' Holdings, a company focused on investment in education. The joint venture is the first of its kind between the two companies, and comes with values and objectives that are in line with the UAE's prestigious government strategy for 2015, which are designed to ensure sustainability, development and a high quality of life for all UAE nationals.
"Everyone at Zabeel Investments is a true believer in education," commented HE Mohammed Ali Al Hashimi, Executive Chairman of Zabeel Investments. "With the launch of Kings' Holdings in partnership with ANC we are fulfilling our promise to continue to invest in education in the UAE making our education facilities second to none, and we are committed to pursuing this strategy for the future of the UAE," he added.
While Kings' Holdings already includes Kings' Dubai within its portfolio, a benchmark primary learning institute, the partnership will enable the creation of Kings' College. Scheduled to open in September 2009, this 1.2 million sq ft all-through education facility will cater for children aged one to 18. The campus is located in Nad Al Sheba and will provide British curriculum education as its educational basis, with a dedicated teaching philosophy by qualified and experienced educators. The school will also encourage involvement in the arts and sports as a means for furthering the education experience.
"This partnership comes at a time when both our companies have become well respected and valued members of the investment community," said Tayeb Baker, Chairman of ANC Holdings LLC. "The fact that Kings' Holdings is a company dedicated to education investments only solidifies both ANC Holdings and Zabeel Capitals commitment to the community," he added.
Kings' College will house three schools on one inclusive campus with a wide range of outstanding discrete and shared facilities. The Early Years Centre will take children aged from one to five, implementing worldwide best practice in early childhood development, with innovative areas for discovery confined to a safe environment. The four form entry primary school will provide excellent and wide-ranging facilities to support teaching and learning in preparation for the next phase, while the six forms of the secondary school will prepare students for higher education.
Jbran Rahal, Managing Director for Zabeel Capital, commented: "This joint investment in the education field will further raise the bar on quality education in the UAE. From an investment perspective, education is one of the most solid sectors to capitalise on, and with the UAE's rapid development and the influx of new residents, quality education institutions will be in great demand."
The joint venture comes as part of the company's continued efforts to support education in the UAE. While Zabeel Investments continues to run its AED 30 million education and leadership programme Bidaya in partnership with Nakheel, Kings' Holdings represents Zabeel Capital's first strategic financial investment in Education in the UAE, with an investment of AED 300 million.
About Zabeel Capital
Founded in 2008, Zabeel Capital is a wholly owned investment holding which was formed by Zabeel Investments to take over its AED 3.67 billion global investment portfolio and focus on growing it across a multitude of sectors both regionally and internationally. The company now has a number of key investments including strategic equity stakes in European Aeronautic Defence and Space Company (EADS), Sony Corporation, as well as a fifty-percent stake in leading US-based hospitality and development management company, The Light Group.