Dubai Investments PJSC, the leading investment conglomerate listed on the Dubai Financial Market , has invested 90% of the total project cost to build Austria’s MODUL 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 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 one year duration, will also be offered for hospitality professionals in the UAE. The courses are accredited by the Knowledge and Human Development Authority , the educational quality assurance and regulatory authority of Dubai Government, and licensed by the University Quality Assurance International Board . All certificates will be issued by MODUL University Vienna and also accredited by the relevant authorities in Austria