Mumtalakat 2019 Annual Report

GEMS World Academy

A successful five-year collaboration reached a fruitful conclusion as we exited from GEMs Education, a UAE-born brand founded sixty years ago which has educated over 120,000 students across 48 schools in the Middle East. Mumtalakat, Fajr Capital, and Blackstone invested in GEMS Education in 2014 and subsequently partnered with the Varkey Group to build the company into a world-class institution and support its long-term growth. Since then, GEMS Education has delivered strong financial and academic results, invested over USD1 billion to build 16 new schools and upgrade existing infrastructure, and grown in its existing market in the UAE, as well as entering into new markets such as the Kingdom of Saudi Arabia.