Amanat Holdings looks set to offload its Middlesex University Dubai campus after signing a sale and purchase agreement with Study World Education Holding Group.
The company did not give a sale price or any details concerning the transaction but said it would “update the market if and when there are any material developments in this regard” in a statement to the Dubai Financial Market, where its shares trade.
“The transaction is subject to the satisfactory completion of customary conditions, including regulatory approvals and [an] estimation of final consideration,” the company said.
Set up in 2014, Amanat has investments across a number of sectors such as education, health care and property.
In education, its portfolio includes school operator Taaleem, Abu Dhabi University Holding Company and Middlesex University Dubai. It also owns the property assets of the North London Collegiate School in Dubai.
The company’s healthcare assets include hospitals in Bahrain and Saudi Arabia.
Study World Education was founded by Indian businesswoman Vidhya Vinod and operates schools in Dubai, India, Sri Lanka and Malta, according to its website.
Middlesex University’s Dubai campus opened in January 2005 and has more than 3,500 students from more than 100 countries. Amanat acquired the campus in 2018 for about $100 million (Dh367m) from the liquidators of private equity firm Abraaj, according to Bloomberg.
Amanat said in May that it would take measures to reduce costs amid the coronavirus-induced economic slowdown, while its senior management agreed to a voluntary pay cut.
However, the company said it would continue to look for growth opportunities and explore regional investments.
The company plans to move its headquarters to Abu Dhabi and list its shares on the Abu Dhabi Securities Exchange.
It recently appointed Mohamad Hamade as its new chief executive.
Amanat's profit grew by 40 per cent to Dh60m last year as income from investments rose and expenses fell.
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
About Housecall
Date started: July 2020
Founders: Omar and Humaid Alzaabi
Based: Abu Dhabi
Sector: HealthTech
# of staff: 10
Funding to date: Self-funded
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
Feeding the thousands for iftar
Six industrial scale vats of 500litres each are used to cook the kanji or broth
Each vat contains kanji or porridge to feed 1,000 people
The rice porridge is poured into a 500ml plastic box
350 plastic tubs are placed in one container trolley
Each aluminium container trolley weighing 300kg is unloaded by a small crane fitted on a truck
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
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A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
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Tips for entertaining with ease
· Set the table the night before. It’s a small job but it will make you feel more organised once done.
· As the host, your mood sets the tone. If people arrive to find you red-faced and harried, they’re not going to relax until you do. Take a deep breath and try to exude calm energy.
· Guests tend to turn up thirsty. Fill a big jug with iced water and lemon or lime slices and encourage people to help themselves.
· Have some background music on to help create a bit of ambience and fill any initial lulls in conversations.
· The meal certainly doesn’t need to be ready the moment your guests step through the door, but if there’s a nibble or two that can be passed around it will ward off hunger pangs and buy you a bit more time in the kitchen.
· You absolutely don’t have to make every element of the brunch from scratch. Take inspiration from our ideas for ready-made extras and by all means pick up a store-bought dessert.
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