Dubai-based GEMS Education has announced plans to invest approximately $300 million over the next two to three years to foster organic growth. CEO Dino Varkey shared this information, highlighting the company’s strategy to capitalize on increasing population numbers and an influx of affluent individuals to the region.

Dubai is recognized as one of the fastest-growing cities globally, with its population significantly boosted by expatriates, particularly high-income earners. These individuals are drawn to the city by its favorable tax policies, business-friendly environment, and convenient time zone.

GEMS Education aims to expand its student enrollment by an additional 30 000 to 35 000 students by 2028, as noted by Varkey during a conference in Abu Dhabi. He indicated that there is strong demand from families relocating to Dubai from various regions, including both the East and the West.

The recent tax reforms in the United Kingdom, such as the introduction of VAT on private school fees and the elimination of non-domiciled status, have prompted some wealthy families to move to the UAE. Varkey remarked, “Certainly, what we’re probably seeing right now is, given the nature of some of the tax reforms going on in parts of the UK and other parts of Western Europe, you are seeing perhaps a higher proportion of families choosing to relocate to the UAE from those parts of the world.”

In the previous year, a consortium led by Brookfield Asset Management (BAM) invested in GEMS Education, reflecting a growing trend of private equity firms supporting local businesses in the Gulf region. GEMS is also set to open a new school in August, with potential annual tuition fees reaching up to $56 000, and may explore acquisitions as part of its growth strategy.

Founded as a single school in 1959, GEMS Education has expanded to educate around 170 000 students from over 176 countries today. The company continues to play a significant role in the educational landscape of Dubai and the broader region.