EDRAK is also expected to provide world-class boarding facilities through its different ventures, initially in the emirate of Ras Al Khaimah (the northernmost emirate) and subsequently in other parts of the United Arab Emirates and the world.
The company’s core advisors include Ellerbe Becket for master planning and concept design, Deloitte as auditors, Al Tammie & Company as legal advisors and Start Consult as business & marketing consultants.
Dr. Izzat Dajani, Chief Executive, Ras Al Khaimah Investment and Development Office, confirmed that His Highness Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, is highly concerned with the education sector and believes that developing communities have begun to realize the true benefit of education as the key factor for any country’s development and prosperity. In this context, the emirate aspires to create a highly educated community that will guide its country into a better future.
The company will be incorporated in RAK Free Zone with the Government of Ras Al Khaimah as a founding partner. EDRAK plans to open the doors to other investors as well with the aim to raise AED 1 billion as paid up capital for carrying out various ventures and projects in the education sector. The primary areas of activities of the company are basic education and higher education sector across many disciplines regionally.
Initially the Company is planning to develop three different projects: 1) the well-known American University, George Mason University, at the Educational campus in RAK; 2) RAK Medical & Health Sciences University offering Medicine degrees near Saqr Hospital in downtown RAK, both for Higher Education.
The third project, Al Hamra Academy, will be a world)class boarding school in the region providing an educational structure designed to meet the global standards and cater to students from UAE and the region. The academy will also have an advisory board of international experts in the academic field.
“On one hand the company will aim to support the educational sector and raise the level of educational standards locally and regionally, whereas on the other hand, it will provide highly lucrative investment opportunities to investors,” added Dr. Dajani.
“In addition to being the new touristic and investment destination, this exceptional project from IDO exhibits the commitment of RAK Government to transform the emirate into an academic hub that will meet the highest international standards in the region,” concluded Dr. Dajani.
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