Dubai, UAE, June 11th, 2012: UAE-based CORE Education & Consulting Solutions FZ LLC (CORE), a wholly owned subsidiary of leading global education solutions provider CORE Education & Technologies Ltd., has confirmed that it will continue to invest heavily in the transformation of the GCC's education sector.
This week, CORE entered into a joint venture with Mackeen Holding, a quasi-government business group with diversified interests in Qatar, to develop a world-class education environment in Qatar. The development is the another milestone for CORE as it expands its presence in the GCC's US$ 65 billion (Dhs238 billion) education sector.
The joint venture with Mackeen will allow CORE and Mackeen align their educational products and solutions offerings to meet Qatar's National Vision2030 where education is a major focus. Currently, the Qatar government spends an estimated US$ 5.2 billion (Dhs19 billion) annually on education alone.
As per the terms of the joint venture, Mackeen will own 51 per cent while the rest will be owned by CORE. CORE and Mackeen will also design, conceptualize and implement "CORE Thinking Schools" across the country, further transforming the educational system of Qatar, while introducing global best practices in education project implementation, evaluation and monitoring.
In February this year, CORE had announced a partnership with the Ras Al Khaimah government in the UAE and Birla Institute of Technology, Ranchi (BIT), a premier engineering institute of India. CORE is in the process of finalizing similar joint venture agreements with partners in Saudi Arabia and other GCC countries. CORE is already expanding wings in Africa rapidly. It has business in countries like Mozombique, Ghana etc.
Announcing the joint venture, Mackeen CEO Ali Al Hashemi said, "We are delighted to partner with one of the world's largest education companies, CORE Education & Technologies Limited, in our endeavour to bring Qatar's education system on par with the best in the world. Mackeen Holding has an excellent track record of having implemented some of the region's landmark projects in infrastructure, real estate, technology and healthcare for several governments and looks to replicate the success in the education sector as well in partnership with CORE. Their innovative, next generation teaching & learning solutions will go a long way in attaining the objectives set in Qatar National Vision 2030."
Sanjeev Mansotra, Chairman & Global CEO of CORE Education & Technologies, described the development as a momentous occasion for CORE. "We saw convergence in our vision of introducing the best of technology-enabled education systems to Qatar and are excited about the opportunity to partner with Mackeen Holding. Mackeen's expertise in executing large-scale government developmental projects across sectors in Middle East and Europe, coupled with our world-class solutions for Schools, Higher Education & Employability Education, will be the cornerstone of the success for this joint venture."
Mansotra added, "CORE and Mackeen are already in talks with other prestigious companies in this region to jointly address the education needs and will also consider exploring opportunities outside Qatar, including Saudi Arabia and Kuwait."