Bloom Holding expands educational portfolio via Egyptian JV
The joint venture will see the Abu Dhabi developer work with Egyptian partners to develop a 40,000sqm campus in New Giza in West Cairo
Abu Dhabi developer Bloom Holding is expanding its education portfolio internationally through a joint venture (JV) with New Era Education (an expert in educational services and school management) and New Giza Real Estate Development (an integrated development company). The JV will see the launch of an international school in Egypt.
The partnership is expected to bring global educational experiences into the Egyptian market towards the academic year 2024, with more than US $76.9mn in investment. The developer has a strong background in the education sector in the UAE through its subsidiary Bloom Education, which has more 10 years of experience in operating schools and nurseries in the UAE, as well as high-quality charter schools on behalf of the government, a statement from the developer said.
Bloom Education currently provides American, English and International Baccalaureate curriculum to more than 16,000 students and aims to continue expanding its portfolio of schools and nurseries across the UAE and MENA region.
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Carlos Wakim, CEO of Bloom Holding said, “The launch of this international school in Egypt reflects our ambitious strategy for growth. We are committed to working with best-in-class partners to offer world-class educational services that support our vision to provide opportunity-rich environments that nurture pupils around the world so they can reach their highest potential.”
“The decision to expand our educational portfolio to Egypt is underpinned by the outstanding academic success of the schools we operate in the UAE, and we look forward to continuing to build upon our successes so far, and further strengthening our position as one of the region’s leading education providers, through maintaining our commitment to excellence and supporting the development of future generations.”
As part of the JV agreement, the subsidiary will ensure the new school’s educational framework, structure and delivery will be aligned with the highest international education standards, while also meeting national requirements and offering a wide selection of co-curricular activities.
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Chairman and Founder of New Era Education, Tamer Tamam added, “At New Era Education, we are excited to partner with Bloom Holding and bring global experience and the highest education standards to Egypt, which will help us achieve our mission of changing the face of education and inspire the new generations to embrace latest educational trends and challenges. Together with Bloom and New Giza Development, we will make a huge difference in the education scene in Egypt.”
The school is planned to open in August 2024. It is a 40,000sqm campus that will cater to pupils from the age of three to 18 years old. It will build on the teaching and leadership style of Bloom Education’s schools in the UAE, which are consistently rated ‘Outstanding’ by the Knowledge and Human Development Authority (KHDA) and Abu Dhabi Department of Education and Knowledge (ADEK).
The school will be located in the integrated residential and commercial community of New Giza in West Cairo, which has been envisioned as a lifestyle destination that will feature educational, sporting, medical, business, and entertainment facilities.
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