World’s first ‘AI-based’ online learning programs announced

Updated 28 July 2017

World’s first ‘AI-based’ online learning programs announced

VFS Edu Support Services Pvt. Ltd., the education services arm of VFS Global, has announced a partnership with UK-based Edtech Oxademy Technologies and its subsidiary Oxademy Business School to form a new global digital learning platform “VFS-Oxademy.”
VFS-Oxademy will offer a first-of-its-kind knowledge-driven artificial intelligence (AI) cloud infrastructure called OX360, which identifies each learner’s strengths and weaknesses and generates learning paths based on individual learner’s behavior, personalizing the learning to each individual student.
The new platform is designed to be a response to the limitations of purely online courses, which have suffered from high drop-out rates, due in many cases to the lack of a personalized learning element and the monotony of rote learning.
VFS-Oxademy will provide internationally-accredited post-graduate and executive education programs in full online and “blended” modes — combining online with classroom learning — for students and professionals from across the globe.
OX360 will allow MBA students to undertake a “virtual work placement” with a blue chip organization as part of the final stage of their studies.
This allows students in the Middle East or India to work with a company in the UK via virtual technologies.
Another benefit to students is the lower cost of obtaining an accredited qualification through VFS-Oxademy. For example, the cost of an MBA course under OX360 will be less than one-third of the usual cost.
Syed Shahzad, founder and CEO, Oxademy, said: “We are bringing learning to people instead of people to learning and it is done by embracing the latest technologies available in digital human interaction and by using a huge amount of data. We have developed an innovative platform and programs that enhance the learning at large scale. VFS-Oxademy partnership is leading the way and pushing the boundaries by incorporating features that make use of artificial intelligence, big data, and analytics to evolve the education sector.”
Bernard Martyris, chief of human resources, VFS Global, said: “A high quality education, especially for advanced professional degrees, carries lifelong benefits. A unique feature of the VFS-Oxademy programs is that they can be customised to individual needs of students, irrespective of location or background. We are delighted to partner with Oxademy to offer digital learning programs that make higher education more accessible to students, in a format that offers them all the advantages of getting an international degree from anywhere in the world.


UAQ, Alinma close real estate fund at $4.5bn

Updated 07 December 2019

UAQ, Alinma close real estate fund at $4.5bn

Umm Alqura Company for Development and Construction (UAQ) and Alinma Investment Company announced the successful completion of the launch of the Makkah Real Estate Development Funds, with an investment value exceeding SR17 billion ($4.5 billion). 

The funds are invested in seven hotel towers and two commercial complexes that will be developed within the King Abdul Aziz Road (KAAR) project in Makkah. It is one of the most significant developmental and urban development projects in the Makkah region. The project includes multiple options including housing and shopping, and provides easy mobility and means of transportation between the project facilities and the central area of the Holy Mosque.    

Yasser Abuateek, CEO of UAQ, said: “This strategic agreement is the first of several diverse investment activities designed to attract leading investment institutions. It confirms the appeal of investing in KAAR, an attractive destination for long-term investments, as well as the trust of the investment and financing community.

“This partnership also sheds light on the strength of Alinma Investment and its success in managing real estate funds, which makes it the ideal partner for implementing the project’s development and urban plan. The project aspires to become one of the modern landmarks in Makkah.”

Abuateek added: “By successfully attracting investments valued at SR17 billion, we will make progress in line with the execution plan for several diverse projects, especially since we have already reached several major milestones, including completion of the pouring and construction of all the concrete blocks for the Makkah Metro tunnels, while in addition we have completed nearly 50 percent of the bridges. Currently, we are working on completing all the unprecedented infrastructure projects that followed the demolition phase, which represent a transformation in the investment, development and preparation of the project’s lands, making it more attractive for development and creating new choices that help upgrade the quality of life for Makkah visitors and residents.”

Acting CEO of Alinma Investment Mazin bin Fawaz Baghdadi said: “We are very happy with the success of the Alinma Real Estate Development Funds together with our partner UAQ. This investment, with the large sum of capital, will play a major role in fulfilling the objectives of the finance sector, while our partnership will contribute to increasing the capacity to accommodate pilgrims and visitors through implementing urban developmental projects in the Makkah region.”

“The funds’ investment objective is to achieve long-term capital growth through the development of the superstructure in various parts of the King Abdul Aziz Road project in Makkah, which are: Five-star international hotels (Taj Hotel and Kempinski Hotel), four-star hotels (Hilton Embassy), three-star hotels (Hilton Garden Inn), apartments (Kempinski Residence), and two malls,” added Baghdadi.