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Austria's leading private university to open campus at DMCC
Dubai: Dubai Investments PJSC, the leading investment conglomerate listed on the Dubai Financial Market [DFM],hasinvested 90% of the total project cost to build Austria'sMODUL University Vienna's first campus in Dubai.
DACH ADVISORY Group, a specialist in the transfer of cross-border business models between the German-speaking world, Russia/CIS and the Middle East, holds the remaining 10% stake in the venture. MODUL University Vienna, Austria leading private university, is backed by 100-plus years' legacy of MODUL College's excellence in tourism and hospitality education worldwide.
The new campus, spread across 25,000 square feet and MODUL's first outside Austria, will be built at Dubai Multi Commodities Center [DMCC] in Jumeirah Lake Towers, Dubai.The campus will be fully operational by September 2016; with admissions commencing in Q1 2016.
A shareholders' agreement was signed to outline the framework for the new campus in the presence of Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, H.E. Walter Ruck, President of Vienna Chamber of Commerce - owners of MODUL University Vienna, Zaid Maleh, CEO of DACH ADVISORY Group, H.E. Peter Elsner-Mackay, Austrian Ambassador to the UAE, Mohammed Saeed Al Raqbani, General Manager of Dubai Investments Industries, and other top officials.
In his comments, Khalid Bin Kalban said: "Education is one of the fastest growing sectors in the UAE, driven by a growing population and the rising demand for quality education. Dubai Investments is committed to play a pivotal role in facilitating the knowledge-sharing; and bringing the prestigious MODUL University to Dubai is a step in the direction amidst unprecedented growth opportunities on offer in the UAE education sector."
He added: "Only 2% of institutions in the UAE offer courses in tourism and hospitality, whereas this sector alone employs over 530,000 professionals in the country. With the tourism and hospitality sector forecast to grow 9% year-on-year and government's increased emphasis on boosting tourism avenues, we feel MODUL University Dubai is the right fit in the UAE market, with its strong legacy in the tourism and hospitality education worldwide."
H.E. Walter Ruck said: "MODUL University Vienna enjoys a sterling international reputation for its standards and the reputed Austrian know-how in education. The comprehensive academic curriculum, particularly in the tourism and hospitality sector, will prepare students in the UAE and the GCC for the competitive world. We are happy to join hands with Dubai Investments and DACH ADVISORY in achieving this."
The MODUL University Dubai campus will offer undergraduate, graduate and MBA degree programmes, including BBA and MBA in hospitality and tourism management, Bachelor of Science degree in international management, MBA in New Media management and Masters of Science degree in Sustainable Development Management, offered by Tourism College MODUL.
Short-term vocational courses, spanning six months to oneyear duration, will also be offered for hospitality professionals in the UAE. The courses are accredited by the Knowledge and Human Development Authority [KHDA], the educational quality assurance and regulatory authority of Dubai Government, and licensed by the University Quality Assurance International Board [UQAIB]. All certificates will be issued by MODUL University Vienna and also accredited by the relevant authorities in Austria.
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About Dubai Investments PJSC
Dubai Investments PJSC is a leading investment company listed on the Dubai Financial Market with over 19,800 shareholders and a paid-up capital of AED 4 billion. Incorporated in 1995, the company has grown exponentially with investments in a number of businesses across three core sectors - real estate, manufacturing & industrial and financial investments. Since its inception, Dubai Investments has challenged the norms and introduced cutting-edge technologies, pioneering business models, unique investment strategies and innovative concepts across its diversified portfolio spanning different sectors and markets across the globe. Dubai Investments currently has over 40 subsidiaries & joint ventures under its portfolio, across a wide array of industries and continues to seek new investment opportunities in new sectors, locally and internationally, as part of its strategic expansion plans.
About Dubai Investments Industries
Dubai Investments Industries (DII) is Dubai Investments' investor arm and targets both new and established industries with a strong commitment to boosting industrial development in local and regional markets. DII includes subsidiaries across sectors, including Emirates Building Systems, Marmum Dairy Farm, United Sales Partners, Edible Oil Company, Dubai Cranes & Technical Services, Emirates Extruded Polystyrene and TechSource LLC.
About DACH ADVISORY Group
DACH ADVISORYGroup is a boutique advisory firm headquartered in Dubai that provides superior business and management consultancy services to a diversified client base ranging from UHNWI & HNWI through to family offices, corporations, financial institutions as well as institutional clients. DACH ADVISORY derives its knowhow and expertise from German speaking Europe, the so-called "DACH" region, while bridging the gap to some of the fastest growing emerging markets from Russia / CIS through to Asia & the Middle East. Founded in 2011, DACH ADVISORY is licensed by the Dubai Multi Commodities Centre Authority (DMCCA). The firm has offices in Vienna, Moscow and in Hong Kong ensuring a true global reach. DACH ADVISORY is privately owned by institutional shareholders.
About MODUL University Vienna
MODUL University Vienna is widely considered as Austria's leading international private university and is owned by the Vienna Chamber of Commerce and Industry, the largest provider of private education in Austria. The university campus is located on Kahlenberg, a scenic hill with a spectacular view of the capital of Austria. The MODUL brand stands for more than 100 years of excellence in education. Founded in 1908, MODUL College is the vocational training school with the longest tradition in tourism and hospitality education worldwide. Since 2007, MODUL University Vienna has been offering cutting-edge education (BBA, BSc, MSc, MBA and PhD study programs) in the areas of international management, new media technology, public governance, sustainable development, and tourism and hospitality management.
© Press Release 2015
