Ahmedabad-based Calorx, one of the India's leading education providers is planning a capex of Rs 250 crore for overseas foray in the United Arab Emirates (UAE). As part of the very first education venture abroad by any Gujarat based education group, Calorx is looking to set up 16 institutions in next three years in the region.
"This will be a very important milestone in realizing the expansion plans that our group has envisaged. Calorx group aims to increase the number of schools and institutions managed by it, from 40 to 100 across India & Middle East region. The group, which has established Calorx Public Schools and Calorx Pre Schools under its umbrella, now has planned to open its first pre-school in Dubai in the coming academic year itself and will be followed by at least 16 institutions in the coming three years," said Manjula Pooja Shroff, chairperson, Calorx Group.
Shroff added that the investment of Rs 250 crore will be made for the 16 institutions in 3 years. The group will be offering Cambridge and CBSE curricula and will begin at least 2-3 schools from the upcoming academic year in 2015.
Already known as a top business gateway for the world, Dubai is now increasingly focusing on the education sector, gaining momentum from the intrinsic drivers such as population growth, increasing number of expatriates, rising importance of high quality education in the society, and a growing spending propensity.
"The UAE government acknowledges the need for an education system that produces industry-ready graduates. According to the World Bank, education expenditure of the UAE government accounts for 23 per cent of total expenditure, compared to the World average of 14 per cent," said Iyer, adding that while Indian schools are well received by the parents in UAE, the move will act as a testing ground for us to test our mettle before we expand to other international markets.
"The schools will follow both international and CBSE curricula. We will adopt a Multi-Sensory teaching so that students get educated by the way of experiential learning and innovative teaching methodologies," added Shroff.
Calorx pedagogy places great emphasis on knowledge sharing thus enabling the student to adapt and mould to a fast-changing competitive world.
Iyer stated that while the current K-12 industry in UAE is valued at $9.1 billion, it is anticipated to reach $14.4 billion by 2020.