DAMAC signs AED 20 million sponsorship MoU with Knowledge Fund to support Dubai Schools project

Dubai, June 15, 2022 - DAMAC Group and the Knowledge Fund Establishment signed an MoU of AED20 million sponsorship agreement to support the Dubai Schools project by providing scholarship funding for Emirati students' tuition fees starting in the 2022-2023 academic year.

The agreement aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance the role of public-private sector partnerships, and also with the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, to invest in high-quality education to equip future Emirati generations with the skills and knowledge to lead Dubai's future knowledge-based economy.

The agreement aims to help achieve the objectives of Dubai Schools, which include providing a state-of-the-art educational experience for a new generation of students to keep pace with the ever-evolving requirements of the future job market. Further, it will support Dubai's efforts to harness advanced science and technological breakthroughs to create a world-class education ecosystem.

The signing of the agreement was attended by His Excellency Abdulla Mohammed Al Basti, Secretary General of the Executive Council and Chairman of the Steering Committee of the Dubai Schools project, and His Excellency Ahmed AbdulKarim Julfar, Chairman of the Knowledge Fund Establishment, at the headquarters of the General Secretariat of the Executive Council.

The agreement was signed by Dr. Shawqi Sajwani, Board Member of DAMAC Properties, and Abdullah Al Awar, CEO of the Knowledge Fund Establishment, with the aim of establishing a sustainable investment infrastructure to enhance the involvement of the private sector in Dubai's pioneering education sector.

Driving Dubai to the future

On the occasion of the signing, His Excellency Abdulla Mohammed Al Basti, Secretary General of the Executive Council of Dubai and Chairman of the Steering Committee of Dubai Schools project, said: "There are clear directives from His Highness Sheikh Hamdan to redouble efforts to maintain Dubai's global leadership in vital sectors.

"Therefore, we are providing our steadfast support to the emirate's education sector, which is the foundation for building an innovative generation capable of anticipating and capturing future growth opportunities."

His Excellency stressed that public-private sector partnerships have always been the foundation of Dubai's success, noting that the DAMAC and Knowledge Fund Establishment partnership signed today can act as a launchpad for the further development of the emirate's education sector.

Beacon of academic quality

For his part, His Excellency Ahmed Julfar, Chairman of the Knowledge Fund Establishment, said the Establishment is keen on providing key components to the development of the emirate's knowledge-based economy with its private sector partners, to ensure that students receive high-quality education.

His Excellency said: "We seek to provide comprehensive support to students. As a member of the Dubai Schools Steering Committee, the Establishment gives top priority to providing a distinct educational and knowledge environment that adopts the best international standards, in line with Dubai's future plans."

His Excellency Julfar added: "The joint agreement with DAMAC will contribute to supporting the Dubai government's vision of creating a leading educational model in Dubai Schools as a beacon of academic quality with its distinct educational experience that contributes to advancing the national agenda of the UAE."

His Excellency Julfar also pointed to the Establishment's commitment to encouraging investment Dubai's education sector by providing comprehensive services and consultations to investors in this vital field, as another example of the potential of partnerships with the private sector.

National responsibility

Hussain Sajwani, founder and Chairman of DAMAC Properties, said the support provided by DAMAC Group to Dubai Schools comes in line with the national responsibility based on the strong belief of creating a brighter future for next generations, and reflects the commitment of the DAMAC Group to society and human development.

Sajwani said: "We are pleased to be part of the Dubai Schools project to provide Emirati students with the skills and knowledge necessary to keep pace with our prosperous economic path and empower them with knowledge to enrich their scientific lives and participate in opening new horizons and global opportunities for students."

He added: "Partnerships between the public and private sector have long been a key pillar of the Dubai's human, social and economic development; and we are delighted to contribute to this educational partnership and empower the youth of today to face the challenges of the future."

World class academic environment

Dubai Schools was established under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, to provide a unique and innovative school education model that enhances values, improve skills and develops the potential of all students.

Dubai Schools focuses on providing an exceptional Emirati educational model and a successful example of academic excellence designed according to the highest international standards, by making it available to all students. It provides scholarships up to 100 percent of the total fees according to eligibility criteria.

Today, Dubai Schools is a vital educational resource with more than 1,200 students registered in the first academic year of 2021-2022. The first two branches are operational in Mirdif and Al Barsha by Taaleem, a major provider of prestigious educational services, and work is underway to launch new branches to achieve the future vision of Dubai and the UAE.

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