Dubai School Operator Taaleem’s Profit Rises Amid Surge in Student Enrollments - Bloomberg
Dubai private school operator Taaleem Holdings reported a 34% increase in net profit, helped by a surge in student enrollments amid an influx of arrivals into the emirate.
Net profit rose to 200 million dirhams ($54.5 million) in the nine months to the end of May, the firm said in a statement on Tuesday. Taaleem added 28,563 students for the 2022-23 academic year, it said, reflecting an increase in the population of the United Arab Emirates.
Parents in the UAE are among the world’s biggest spenders when it comes to educating their children. Dubai’s emergence as a post-Covid haven has drawn expatriates to the emirate, further helping to prop up demand.
“The trajectory of growth in the United Arab Emirates economy is very exciting,” Chief Executive Officer Alan Williamson said in an interview with Bloomberg TV. “We expect around 65,000 young people to be entering the market in the next five years.”
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