DUBAI, 25 February 2007 — Zabeel Investments has announced it is taking a stake in Madaares, a private joint stock company launched by National Bonds Corporation (NBC) to raise educational standards in the UAE.
Although NBC continues to lead the project, a selection of strategic corporate investors and individuals are now on board. Zabeel Investments, in keeping with its ongoing support of education in the region, is among these investors.
“With a booming economy and expanding infrastructure comes an increasing need for a skilled and educated regional workforce. By providing our youths with a world class education, we are truly investing in our future. Education is the foundation of any strong economy,” Mohammed Ali Al-Hashimi, Zabeel Investments’ executive chairman, said.
The focus of the Madaares initiative is the region’s primary and secondary school system. Research shows that student numbers in the UAE rose by over 74,000 in the five years between 1999 and 2004. During this period, more than a hundred new schools opened. “However, there remains a significant need for more schools to cater to the growing population and to ensure school curricula maintain the highest standards,” said Al-Hashimi. “By 2014, Madaares aims to open up to 20 primary and secondary schools within the UAE, 14 of which are scheduled within the next 5 years.”
Al-Hashimi has long stressed the importance of providing children with a comprehensive, balanced education, taught in well-equipped facilities by qualified individuals. “First-rate primary and secondary schools will be a vital component of the region’s continuous success,” he said.
“Madaares will set new standards in the education sector, offering both UAE nationals and expatriates first class tuition and resources.”