Al Benaa Real Estate Investment PJSC announces joint venture agreement signed with H CT

The programme will be based in Abu Dhabi, and will meet the needs of the UAE for training courses and diplomas in real estate and facilities and property management.

The agreement was signed by H.H Sheikh Nahyan bin Mubarak Al Nahyan, the UAE's Minister of Higher Education and Scientific Research and Mr. Hamad Saif Al Mansouri, Chairman of Al Benaa. The ceremony was conducted at HCT's Abu Dhabi Men's College Campus.

This agreement represents an important development in private-public sector initiatives, combining Al Benaa's business capabilities and experience with HCT's outstanding track record in education that meets the needs of the UAE's economy and society.

While the real estate industry is expanding rapidly in Abu Dhabi and across the UAE, the supply of trained, qualified facilities, properties management professionals is absent.

Labour shortages internationally are contributing to a potentially serious shortage in this area, just as the UAE's demand levels increase.

This will become particularly acute when buildings and communities currently under construction are handed over and occupancy begins.

Al Benaa Real Estate and HCT are taking the lead in meeting current and potential local shortages of facilities and properties management professionals through its joint venture with HCT.

The new joint venture will provide a mix of customised, client-specified training programmes, e-learning and seminars, as well as courses in industry certification and diploma programmes.

Mrs. Noura Jasem Al Nowais, Al Benaa's CEO, says:

"Unfortunately, when business is expanding, most people do not think about training first. They usually expect that they will be able to recruit capable people as and when they need to. There is a worldwide shortage of good people in facility and property management, so training is really the only effective way of ensuring a ready supply of managers for new projects. Our aim as a company is to meet Abu Dhabi market need in our field. This joint venture with HCT will be the first such training provider in the UAE, and is just one of the ways in which we, Al Benaa, meet Abu Dhabi market's requirements and needs."

The new joint venture will be a highly focused, real estate niche-market firm.

This industry is growing locally, and, according to sources, will expand by double digit percentages over the next five to ten years.

As with all its projects, this joint venture follows Al Benaa's strategy of meeting market requirements across the real estate industry, whether for investment, development, property management or - as in this case - skills and knowledge.

The joint venture is an example of policies set by the first president of the UAE, H.H Sheikh Zayed bin Sultan Al Nahyan.

His late Highness emphasised the importance of education and human development in the successful growth of the federation: "The government's first priority is the development of its people. Financial capability is useless without the presence of local able professionals capable of constructing the nation". The HCT-Al Benaa joint venture will aid in building the local professional workforce.

Al Benaa is a leading provider of investment, development, and property and facilities management in local real estate projects.

Based in Abu Dhabi, Al Benaa is a private joint stock company (PJSC), owned 100% by prominent UAE national investors. Al Benaa was established in 2006.

The Higher Colleges of Technology HCT is the largest higher educational institution in the United Arab Emirates.

Since the establishment of its four founding colleges in 1988, the Higher Colleges of Technology has become known for innovative approaches to learning.

HCT emphasises the preparation of students for a globalised workplace.

Students are provided with opportunities to become conversant with international best practices in their professions and understanding of other cultures.