Mubadala closes PPP financing

Abu Dhabi: Mubadala Development Company on Wednesday announced it has closed an oversubscribed $1 billion (Dh3.67 billion) non-recourse financing of the Zayed University public-private partnership (PPP) project.

The project between Mubadala and Abu Dhabi Education Council (ADEC) is a strategic priority for the Abu Dhabi Government and a core component of ADEC's strategic plan to improve and sustain the Emirate of Abu Dhabi's higher education system.

The new Zayed University Abu Dhabi campus is currently under construction on a 75 hectare lot located in the New Capital District of Abu Dhabi.