Dubai-based GEMS Education is set to open a SF162m ($172.2m) new school in Switzerland next year to cater to hundreds of students in Etoy, a community west of Lausanne in the canton of Vaud. Offering instruction primarily in English, the 14,000 sq m Gems World Academy private school is aimed at the offspring of employees of multinational firms in the Lake Geneva region. "The project, including the building, is worth SF162m," said Rob Curtis, Gems Education marketing manager for Europe. "Construction started in 2011 and completion is planned for summer 2013, ready for the September 2013 academic year." GEMS runs schools in the UAE, the UK, Africa, China, India and the US.