The Knowledge Fund Establishment managed an investment portfolio worth Dh1.01 billion at the end of 2023. This represents a 47.2% increase over the end of 2022. In 2023, the Establishment allocated 2.8 million square feet of educational assets to investors and operators within the education sector. This is a 211% increase from 2022.
The assets allocated are expected to benefit over 18,000 students through the launch of educational projects, including schools and early learning centers that offer British, Indian, French, and American curricula, These assets are strategically distributed to cover the broadest possible community segment. These include Nad Al Hessa and Al Barsha.
The Knowledge Fund manages an extensive investment portfolio supporting education and knowledge initiatives in the emirate. The Fund's portfolio management strategy, which includes investment diversification and the pursuit of promising new investment opportunities, is the key to the portfolio's sustainability.
Ahmed Abdulkarim Julfar said, "The market value for the Knowledge Fund Establishment's investment portfolio exceeded one billion dirhams. This clearly indicates our management strategy's positive impact and effectiveness." These investments will be a significant factor in meeting education needs, supporting educational programs, and driving sustainability across the emirate.
Julfar said "the Knowledge Fund Establishment" had provided more than Dh250m to support educational initiatives within the emirate by 2023.
Abdulla Mohammed Al Awar is the CEO of the Knowledge Fund Establishment. He said: "The Knowledge Fund Establishment commits to attracting investors into the education sector, which benefits from the high-quality services offered by Dubai. The Establishment engaged investors successfully in the first year after the launch of the 2023-2025 Strategy to encourage them to invest and finance educational activities. The allocation of educational spaces to investors in 2023 indicates the emirate's attractiveness as an investment.
Al Awar praised the Fund's partners' contributions to the educational industry in the emirate. He said: "We are grateful to our partners from the government and private sector, as well as prominent supporters of the 'Dubai Schools' Project, namely DAMAC Properties and Dubai Islamic Bank. We also thank the Dar Al Ber Society and the Islamic Affairs and Charitable Activities Department.
Knowledge Fund Establishment's educational initiatives, such as 'Dubai Schools,' which has three branches in Mirdif, Nad Al-Sheba, and Al Barsha, have made significant progress this year. They reported a 31% increase in student enrollment compared to the previous year. This includes 2,580 students of 38 different nationalities. This growth reflects the increasing interest of families in enrolling their children in Dubai Schools to take advantage of the excellent educational environment they provide.
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum oversees the Dubai Schools project. Crown Prince of Dubai and Chairman of The Executive Council of Dubai. It demonstrates His Highness's dedication to empowering future generations and meeting their needs while enabling them to innovate and positively shape the future.
The Fund has also awarded scholarships worth Dh50 million to more than 2,200 Dubai students who meet the criteria for eligibility in 2023.
In 2023, the Knowledge Fund will allocate more than Dh14 million in scholarships for outstanding Emirati Students under the Mohammed Bin Rashid Distinguished Students Programme. Since the Program's inception in 2017, the Establishment has provided over Dh62 million to support 350 distinguished Emirati Students.
The Knowledge Fund Establishment signed a memorandum with the Emirates Literature Foundation to launch a 'Reading for Pleasure" initiative. This initiative aims to encourage students to read by implementing an integrated strategy in all schools in the emirate.
The Fund signed a MoU with Innoventures Education to sponsor the Dubai International Academy Model United Nations Conference 2023. The conference was a leading knowledge exchange event that brought together students from all over the world. Its goal was to help participants improve their diplomatic skills and learn how to manage discussions effectively.
The Establishment has also collaborated and sponsored the Fund Manager Training Programme with the Dubai Future District Fund, one of the world's most prominent interactive programs focusing on portfolio management. This Program offers a comprehensive learning experience about developing a strategy to manage investment funds.
The Knowledge Fund Establishment released its strategic plan for 2023-2025 at the start of last year with the main aim of strengthening Dubai as an attractive hub of global educational investment. The Establishment has set ambitious goals to enhance sustainability in its investment portfolio and meet investors' needs in the education sector.