Amanat Holdings has achieved a significant financial return, posting a net cash gain of AED 294 million following the sale of North London Collegiate School’s real estate assets in Dubai. The deal, valued at AED 453 million, marks a successful exit from a property investment held since 2018.
The company’s total investment in the Dubai asset amounted to AED 393 million, comprising an initial acquisition cost of AED 360 million and a subsequent capital expansion of AED 33 million. This calculated growth was reflected in the deal’s outcomes, delivering an unlevered cash-on-cash multiple of 1.7x and an internal rate of return of 10%.
Amanat Holdings, which primarily focuses on investments in education and healthcare sectors across the Middle East, saw its strategy of long-term capital deployment in educational infrastructure pay off with this sale. The return on investment is seen as a positive outcome for the company’s overall portfolio, which includes a wide range of properties aimed at enhancing educational facilities.
The North London Collegiate School Dubai, established as part of a prestigious international chain, had expanded significantly during Amanat’s ownership. The school’s real estate, which consists of purpose-built educational and sporting facilities, has gained in value since its acquisition. The transaction illustrates the growing demand for premium educational institutions in Dubai, as both residents and expatriates increasingly seek high-quality schooling for their children in the region.
Amanat’s decision to exit the investment at this stage reflects broader trends in the Middle East’s real estate market, where rising interest in educational assets has fuelled valuations. Investors looking for stable, income-generating properties are increasingly turning their focus to institutions that cater to the growing expatriate and local populations seeking world-class educational opportunities.
The company has not revealed the identity of the buyer, although speculation points to another regional player or a group keen to capitalise on the strong growth potential of educational real estate in Dubai. This sale follows similar trends seen in the region, where schools, universities, and healthcare institutions have become attractive assets for private investors due to their long-term income-generating potential.
Looking forward, Amanat Holdings has indicated that it plans to continue focusing on its core sectors—education and healthcare—and will likely reinvest the proceeds from this sale into new projects within these industries. The company has previously signalled its commitment to expanding its footprint in the GCC, with a focus on investments that align with the region’s growing demand for quality education and healthcare services.
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