Skip to content Skip to Search
Skip navigation

Taaleem signs deal with UK’s Harrow for GCC schools

Students at England's Harrow School. Taaleem Holdings will own and operate Harrow International Schools Alamy via Reuters
Students at England's Harrow School. Taaleem Holdings will own and operate Harrow International Schools
  • Super-premium school market
  • Taaleem hails ‘significant milestone’
  • First school will be in UAE

UAE schools operator Taaleem Holdings has signed a deal with the UK’s Harrow School to own and operate Harrow International Schools across the GCC.

The agreement marks Taaleem’s first foray into the super-premium school market.

The first Taaleem Harrow School will open in the UAE, according to a statement on Monday, although no date was given.



“This agreement marks a significant milestone for Taaleem as we combine Harrow’s prestigious and longstanding tradition of educational excellence with Taaleem’s regional experience and focus on local culture and values,” said Khalid Al Tayer, chairman of Taaleem.

Harrow School was established in 1572 under a Royal Charter granted by Queen Elizabeth I. Among the illustrious Harrow alumni are Lord Byron, Winston Churchill, Jawaharlal Nehru, King Hussein of Jordan and seven British prime ministers.

Dubai Financial Market-listed Taaleem, which operates schools on behalf of the Abu Dhabi, Dubai and UAE federal governments, revealed in March that student numbers across its portfolio of 32 schools increased to almost 38,000.

The company said this helped to boost its bottom line to AED183 million ($50 million) for the first half of the 2023-24 academic year.

Taaleem will open two new Dubai British Schools, Jumeira and Mira, in August 2024 and September 2025, respectively.

Analysts are warning that the education sector in Dubai is no longer yielding the lucrative double-digit returns it used to.

Navin Valrani, CEO of The Arcadia School, told AGBI new investors considering the emirate must tackle significant entry barriers, escalating costs and an increasingly mature market.

He warned that the emirate is crowded with more than 200 private schools from large and global operators, making the market less penetrable than it appears.

According to analyst IndustryArc, the Mena education sector is forecast to be worth $175 billion by 2027, with a compound annual growth rate of 8.5 percent from 2022.

Latest articles

ADQ's holdings include Abu Dhabi National Energy Company (Taqa) and are worth almost $200 billion

ADQ: how Abu Dhabi’s ‘baby’ fund is finding its feet

Abu Dhabi sovereign wealth fund ADQ may be the younger, smaller sibling of ADIA and Mubadala but there are no signs of an inferiority complex as it executes billion-dollar deals at home and overseas. Most notable was the $35 billion agreement signed with the Egyptian government in February this year to develop Ras El Hekma, […]

Suriname oil

QatarEnergies buys into Suriname oil expansion

The state-owned giant QatarEnergy has signed a deal with US oil company Chevron to acquire a 20 percent interest in a production-sharing contract for an offshore concession in the South American country of Suriname. Chevron will keep a 40 percent interest in Surname’s block 5, as will Paradise Oil, an affiliate of Suriname’s national oil […]

Rakbank

Rakbank plans first bond to fund social projects

The National Bank of Ras Al Khaimah (Rakbank) is planning to launch its first social bond issuance, a news report has said. The Abu Dhabi-listed bank is seeking bids for the five-year benchmark-sized dollar-denominated bond, Reuters reported. The initial price was set at 170 basis points over US Treasuries, with the final pricing expected on confirmed […]

The proposed sharia standard 62, which aims to transition the industry towards asset-backed sukuk, will not affect 2024 issuance, says S&P

Sharia standard 62 may disrupt sukuk market, says S&P

Global sukuk issuances are likely to suffer next year if the proposed standard 62 sukuk changes to sharia guidelines are implemented, according to credit rating agency S&P. “Adopting Accounting and Auditing Organization for Islamic Financial Institutions standard 62 guidelines as they have been presented could disrupt the market,” it said in a new report. The […]