The campus is being developed at a cost of $100 million 

Dubai, June 2, 2025: GEMS Education has announced that Izdihar Real Estate Fund, managed by Oman-based financial services provider Bank Muscat, will invest in the real estate of its upcoming British curriculum school, the GEMS School of Research and Innovation, located in Dubai Sports City. Scheduled to open in August 2025, the campus is being developed at a cost of $100 million.  

“We are delighted to welcome Bank Muscat’s Izdihar Real Estate Fund as a strategic partner in this landmark project,” says 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,” he adds.  

Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets, Bank Muscat, says “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.