Emirates Investment Bank, a leading investment banking boutique headquartered in Dubai, said it has secured major funding for Abu Dhabi-based Emirates College of Technology (ECT) to build its new campus in Masdar City.

The campus, being built on a 20,790-sq-m plot of land, will accommodate both males and females in one location. Construction is expected to be completed by mid-2018 with the new batch of students starting fall of 2018-2019.

On completion, the campus will allow the institute to increase the capacity to 5,000-plus students with all world-class facilities.

Emirates Investment Bank, a client-focused, independent private and investment banking boutique headquartered in Dubai, had acted as sole financial advisor to ECT on the successful equity private placement.

Established over 20 years ago, ECT is the first private higher education institute in Abu Dhabi duly licensed and accredited by the UAE Ministry of Higher Education and Scientific Research.

Wael Al Anqar, the head of the board of trustees of ECT, said: "The Masdar City campus will allow us to provide our students with a greater learning experience by teaching in a purpose-built facility with the entire student body in one place."

"Being based in Masdar City, we will have room to expand over time alongside the expected growth of our student population. We are delighted to have the financing in place and we are now looking forward to opening our new facilities in September, 2018," stated Al Anqar.  

Husam Kutaifan, the head of investment banking at Emirates Investment Bank, said: "We are proud to have been able to help ECT raise funds for the construction of their new campus, a project that is strategically important for the future of the UAE."

"As a boutique private bank with an established investment banking team, we specialise in helping clients navigate complex financial situations and to have placed this deal during a challenging market environment is a testament to our strong distribution and execution platforms," he added.-TradeArabia News Service