Dubai school's real estate sale gets Dh453m for DFM-listed Amanat

Deal provides Amanat with net cash return of Dh294m from 7-year investment

Last updated: August 22, 2025 | 08:35

Manoj Nair, Business Editor

1 MIN READ

The sale of the real estate linked to North London Collegiate School is another big one for Dubai's commercial real estate space.

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Dubai: The UAE investment company Amanat has picked up Dh453 million from selling the real estate linked to the North London Collegiate School in Dubai. This marks Amanat's disposal of the asset just over 7 years after it bought the area for Dh360 million.

The company then added a capital expansion of Dh33 million, increasing Amanat’s total investment to Dh393 million. The buyer is Souk NLCS Holdings Ltd., a company licensed by ADGM.

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The exit now reflects Amanat’s 'identify, grow, monetize' strategy, which focuses on 'investing in high-potential assets, accelerating their growth, and monetizing them at the right time'.

"This transaction broadens our strategic options," said Dr. Shamsheer Vayalil, Chairman of Amanat. "Moving forward, we remain committed to growing our education and healthcare businesses whilst at the same time delivering on monetization opportunities that generate further shareholder value.”

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The Dh453 million deal represents an unlevered cash-on-cash multiple of 1.7x and an internal rate of return of 10%. The transaction will generate a net cash return of Dh294 million.

The proceeds will give Amanat flexibility to 'deploy capital into new opportunities that are aligned with our strategic priorities', said John Ireland, Amanat's CEO.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.