Dubai – Mubasher: Dubai-based GEMS Education on Monday announced plans to purchase almost 50% stake in four schools in Egypt.
Located in Rehab City and Madinaty, the four national schools and British curriculum schools comprise the British International School Madinaty (BISM), two branches of Madinaty Integrated Language Schools (MILS) and the British School Al-Rehab (TBS), the Middle East-focused education firm said in a statement.
The company, which is considered one of the world’s leading providers of private English-language education for students from kindergarten to twelfth grade (K-12, targets expansion in the Egyptian market after entering it earlier this year through managing the previous schools.
“We are committed to growth in the Egyptian market under terms set out in our joint venture with EFG Hermes, and we look forward to building on our partnership,” Dino Varkey, CEO of GEMS Education, said.
As part of its 50/50 joint venture with EFG Hermes, GEMS eyes acquiring up to 30 schools in Egypt, the Arab world's most populous country, within the coming five years, the statement pointed out.
“We are just beginning our journey in the country, which is celebrating 2019 as the Year of Education, and we are excited about further building on our success in new markets,” Varkey added.
Founded in 1959, GEMS Education owns and operates 49 schools and educates over 124,000 students in the Middle East and North Afric (MENA) region.
