The rapidly rising education sector in one of the most decorated middle-eastern countries, the United Arab Emirates (UAE) sees another foreign university attracted towards them to invest in its region. The United Arab Emirates which is at present one of the most fancied destinations for investors around the world from various sectors like education, healthcare, and IT business sees them tempted towards the kingdom to set up their business in the UAE. The country sees a US-based university, Rochester Institute of Technology (RIT) about to open its campus in Dubai as the latest addition to its education structure.
Why is RIT Spending in Dubai?
Dubai, which is considered as one of the most prominent cities in the UAE, has always been a desired location for various business investors around the world to trade or establish their business in the region.
Rochester Institute of Technology, which is a US-based university, is about to set up its regional campus in Dubai to expand its educational services across the region. The school is expected to be constructed in a two-phase schedule. Of those, the first phase has already been started after the chairman of Dubai Silicon Oasis Authority (DSOA) Sheikh Ahmed bin Saeed Al Maktoum laid the foundation stone for the regional campus which is going to be named as Rochester Institute of Technology - Dubai (RIT Dubai) at Dubai Silicon Oasis (DSO). The first phase of the construction is expected to be completed around the first quarter of 2020 and is going to cover an area of around 30,000 square meters.
The total budget allocated by the organization for this project is AED500 ($136 million), out of which AED200 is being earmarked to be used in the first phase, and remaining AED300 are supposed to be invested for the second phase of the project. The second phase is expected to span even more area compared to that covered in the first phase and will add up further 116,000 square meters to the campus, and is slated to be completed in 2023. The project is a collaboration between the existing local body Dubai Silicon Oasis Authority (DSOA) and US-based organization RIT which is expected to provide students with a better technology-based curriculum which eventually will help students with the latest market technology strategies and make them future-ready for better jobs.
The university is set to provide various high tech and world-class facilities and is expected to accommodate near 4000 students to its new campus to prepare them in the best possible way for future roles and provide them with the best assistance.
The department classification is supposed to be based on the specialization and field of study which is, the Department of Electrical Engineering and Computing, Mechanical and Industrial Engineering, Business Administration, Department of Sciences, and humanities. Other facilities to be included consist of features like sports facilities, including football fields, basketball courts, tennis courts, and cricket fields. The building infrastructure will consist of a central courtyard, a residential hostel, an innovation, and entrepreneurship centre, an interactive education centre, theatre, libraries, food courts and spaces for various activities.
The foremost goal of RIT in expanding its roots in Dubai is providing innovation-based education to the students around the UAE territory and also due to the ever-growing education sector in the UAE. The president of RIT New York was himself praising the approach and was quoted saying, “Dubai is a very dynamic and rich city with massive experience, and we look forward to jointly enrich our experiences through research and development, students and faculty exchange programs and many more.” This approach is just another example of how Dubai or the UAE has become one of the most dream destinations for investors across the globe.
Why Are Business Investors Shifting Their Focus Towards the UAE?
The United Arab Emirates (UAE) has started to become one of the most preferred destinations for the people who like to trade in education, healthcare and other business sectors due to the massive response which the country is receiving from the subcontinent. The education industry is attracting a lot of talents towards the UAE who want to enhance and improve their abilities, thus eventually making the image of Dubai as one the most attracted region worldwide.
Hence, the UAE has become one of the most preferred choices for no. of investors around the world. The chairman of DSOA was quoted saying. “Dubai has become a global role model for investing in the innovation-based education that is capable of preparing young people for future careers, motivating them to think creatively, and enabling them to leverage current trends to accurately anticipate future opportunities and challenges to identify the most effective solutions”. This statement itself is an estimate that the UAE can be a very booming and profitable sector for investors aspiring to set up any business in the UAE region.
Concluding the above article, we can easily say that to trade your money in a varied business structure in the UAE can be a very productive step that can result in very blooming results for any investor across the globe be it the education sector, the healthcare sector or any innovative business. The fruitfulness of the investment is highly expected in the region. If you are looking forward to setting up any business across the UAE feel free to contact us, we have a lot to share!