Emirates NBD Acquires New South View School

Emirates NBD Asset Management’s real estate investment trust ENBD Reit, has announced its first venture into education with the acquisition of South View School in Remraan Community, Dubai South.

The deal is believed to cost AED 55 million and is the company’s first educational asset.

South View School is a British curriculum school set to open in 2018/19.

Tim Rose, head of Real Estate at Emirates NBD Asset Management, said in a press release: “This is our first education asset, and an important step in the ongoing diversification of our portfolio away from purely office and residential properties.”

“The UAE’s education sector continues to prosper and grow, and we are very proud to have become a part of that journey.”

The school will be run by Interstar Advisory Services which already manages the highly popular Delhi Private School in Sharjah and DPS Jebel Ali (rated Very Good by the KHDA in 2017), Victory Heights Primary School, (rated Good by the KHDA) and several further schools across India.

Talking to UAE newspaper, Khaleej Times in May 2017, Dinesh C. Kothari, Chairman of Interstar Advisory Services, said, "we have plans to open two more British-curriculum schools in the UAE.”

“One will be located in Dubai, [South View School] where we are currently in the process of applying to the KHDA for an academic license.

"The other is in Northern Emirates where we are investigating various options.”