School Real Estate Sale Generates Significant Funds

Amanat, a UAE investment company, has sold the real estate associated with the North London Collegiate School in Dubai for Dh453 million. This sale marks the conclusion of Amanat's seven-year investment in the property, which was initially acquired for Dh360 million. Including a capital expansion of Dh33 million, Amanat's total investment in the asset reached Dh393 million. The buyer is Souk NLCS Holdings Ltd., a company licensed by ADGM.

The transaction aligns with Amanat's "identify, grow, monetize" strategy, which focuses on investing in high-potential assets and realizing their value. The sale generated an unlevered cash-on-cash multiple of 1.7x and an internal rate of return of 10%. This deal will result in a net cash return of Dh294 million for Amanat.

According to Dr. Shamsheer Vayalil, Chairman of Amanat, the transaction broadens the company's strategic options. John Ireland, Amanat's CEO, stated that the proceeds will provide flexibility to deploy capital into new opportunities aligned with the company's strategic priorities.