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FINANCIAL NEWS
Dubai’s GEMS to raise USD 250mn for expansion
25 Apr 2016
(MENAFN) Dubai’s GEMS Education raised a USD 250mn loan to build new schools in the Gulf Cooperation Council states and other nations.
Moreover, the firm obtained the three-year loan in dollars and dirhams, more than 80 percent of which will be paid at maturity and the remained over the loan’s life.
In addition, Dubai’s main banks were amidst the one which provided the funds, whereas United Arab Bank and Barwa Bank didn’t respond to calls.
GEMS Education recorded a 13 percent increase in income to USD 467mn in the financial half-year ended Feb. 28 as student employments jumped to 98,849.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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