GEMS Education secures strategic investment from Bank Muscat's Izdihar Real Estate Fund for flagship GEMS School of Research and Innovation
Scheduled to open in August 2025, the state-of-the-art campus is being developed at a cost of USD 100 million. Strategically located in the heart of premium residential communities, the school has already seen strong early enrolments, reflecting continued robust demand for quality education in Dubai. The school brings together world-class teachers, the latest AI technologies, and unmatched facilities to reimagine education.
'We are delighted to welcome Bank Muscat's Izdihar Real Estate Fund as a strategic partner in this landmark project,' said Dino Varkey, Group Chief Executive Officer, GEMS Education. 'Their investment underlines the strength of our education platform, our continued focus on high-quality infrastructure, and our confidence in Dubai as a leading global education hub.'
Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets, Bank Muscat, said: 'We are pleased to partner with GEMS Education, a recognised leader in private education, through this investment in GEMS School of Research and Innovation, Dubai.
'This investment through our Izdihar Fund aligns with our long-term strategy of supporting essential community infrastructure and generating sustainable value for our investors. Education remains a resilient and essential asset class, and we are pleased to contribute to a project that will serve generations of students.'
Ovais Chhotani, Chief Financial officer, GEMS education, said: 'Our partnership with Bank Muscat reflects a growing institutional interest in the education sector. This investment reinforces GEMS Education's commitment to expanding its network of world-class learning environments in the region and continuing our long history of investing in state-of-the-art facilities offering innovative and immersive learning experiences for our students.'
CoReal Partners acted as the M&A advisor, while Eversheds Sutherland led the legal negotiations on behalf of GEMS Education. Baker McKenzie advised Bank Muscat on the transaction.
About GEMS Education
GEMS Education is one of the oldest and largest K-12 private education providers in the world and a trusted and highly regarded choice for quality education in the Middle East and North Africa region. As a company founded in the UAE in 1959, it holds an unparalleled track record of providing diverse curricula and educational choices to all socio-economic means.
Having started with a single school run from a private home in Dubai, GEMS remains a family business to this day. Its inspiring Founder, Sunny Varkey, and his son, Dino Varkey, who is Group Chief Executive Officer, are responsible for providing vision, insight, and strategy across the organisation.
Every day, GEMS has the privilege of educating students from over 176 countries through its owned and managed schools globally. And through its growing network, as well as charitable contributions, it is fulfilling the GEMS vision of putting a quality education within the reach of every learner.
Every year, students graduating from GEMS schools progress to the world's best universities. Over the past five years, GEMS students have been accepted into over 1,050 universities in 53 countries including all eight Ivy League universities in the US and all 24 Russell Group universities and colleges in the UK.
About Bank Muscat and the Izdihar Real Estate Fund Established in 1982, Bank Muscat is the Sultanate of Oman's leading financial institution, offering a broad spectrum of services across corporate banking, retail banking, investment banking, treasury, private banking and asset management. The Bank, with assets of more than USD 36 billion in 2025, has the largest network in Oman, exceeding 190 branches distributed across various governorates.
Izdihar Real Estate Fund is the first and among the largest real estate investment trust (REIT) type of fund established in Oman and regulated by the Financial Services Authority. It was set up in December 2015, with the objective to generate sustainable and attractive long term returns to investors. The Fund manages assets under management (AUM) worth more than USD 230 million, with a strong track record of generating returns to investors since its inception.
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