School Real Estate Sold in Dubai

Amanat Holdings is set to receive Dh453 million from the sale of the real estate assets associated with the North London Collegiate School in MBR City. The company initially announced its intention to sell the 38,216.95 square meter plot in May, with expectations of generating between Dh450 million and Dh500 million. Amanat acquired the school in June 2018 for Dh405 million from PNC Investments, the parent company of Sobha Group.

This sale aligns with Amanat's strategic goal of enhancing shareholder value and concentrating on its core investments in healthcare and education. The transaction signifies a strategic shift for the company, as it reallocates resources to its primary areas of focus.

Manoj Nair, the Gulf News Business Editor, provides expert insights on property, gold, and stocks within the UAE and the broader region. His expertise also extends to the luxury brand sector and the evolving landscape of the retail industry.

With three decades at Gulf News, Nair's interests extend beyond financial journalism to include a passion for Bollywood movies from the 1950s to the 1980s.