Dubai, UAE; 29 May 2016: Emirates Investment Bank (DFM: EIBank), a client-focused, independent private and investment banking boutique headquartered in Dubai, announces that it acted as sole financial advisor to Abu Dhabi based Emirates College of Technology (“ECT”) on a successful equity private placement to fund construction of its new campus in Masdar City. Established over 20 years ago, ECT is the first private higher education institute in Abu Dhabi duly licensed and accredited by the UAE Ministry of Higher Education and Scientific Research.
ECT’s new purpose-built campus will allow it to increase the campus capacity to 5,000 plus students with all world class facilities. The Masdar City campus is being built on a 20,790m2 plot of land and will accommodate both males and females in one location. Construction is expected to be completed by mid-2018 with new batch of students starting fall of 2018-2019.
Mr. Wael Al Anqar, Head of the Board of Trustees of Emirates College of Technology, said, “The Masdar City campus will allow us to provide our students with a greater learning experience by teaching in a purpose built facility with the entire student body in one place. By being based in Masdar City, we will have room to expand over time alongside the expected growth of our student population. We are delighted to have the financing in place and we are now looking forward to opening our new facilities in September, 2018.”
Husam Kutaifan, Head of Investment Banking at Emirates Investment Bank, said, “We are proud to have been able to help Emirates College of Technology raise funds for the construction of their new campus, a project that is strategically important for the future of the UAE. As a boutique private bank with an established investment banking team, we specialise in helping clients navigate complex financial situations and to have placed this deal during a challenging market environment is a testament to our strong distribution and execution platforms.”
In addition to the 17 unique diploma and Bachelor degree programmes currently offered, ECT plans to offer Masters programmes in media and business administration along with specialised programmes in pharmacy management during the academic year 2018-2019.