Doha: Gems Education has partnered with local banking and investment companies to support the development of two private schools in Al Wakra, a release said yesterday.
The First Investor (TFI), the investment banking division of Barwa Bank Group, Qatar Insurance Company (QIC) and Tanween are collaborating with Gems Education to fund two private schools and support private education in the country.
With the demand of high quality education steadily increasing due in Qatar, TFI, QIC and Tanween have agreed to fund the development of two mid income schools in Al Wakra, and lease the operations out to Gems Education on a long term basis. The schools are currently in the construction phases and are expected to open next year. Of the two schools, one will follow the British curriculum and the other will follow the Indian curriculum.
Khalid Al Subeai, CEO of TFI, speaking about the project said: “Students expected to enroll in private schools in Qatar are forecasted to increase by 30-40 percent over the next three to five years, which will lead to a capacity shortfall for quality education in the market.”
“This is a unique project that provides access to a high growth sector, primary and secondary education, which has a strong demand in Qatar,” Sunil Talwar, Deputy CEO and Group CFO of QIC, said. Dino Varkey, COO of Gems Education said: “The Group has a long-term commitment to Qatar, and we look forward to working with the Qatari authorities, our partners and the broader community to develop further high quality education facilities in the country.”
“Tanween is proud to be associated with such developments that contribute to the overall enhancement of the social infrastructure. Realizing the social relevance of the project, Tanween, utilizing its development management expertise, has also committed to project monitoring of the schools on behalf of the other partners,” Mohamed Fakhro, CEO of Tanween, said.
Gems Education already operates more than 30 schools in the UAE.
The Peninsula
