Expats fuel rise of Dubai billionaire private school operator

At Gems World Academy in Dubai, the United Arab Emirates, kindergarteners have access to iPads and students spend time at the school's 70-seat planetarium.

That all comes at a cost - fees that can rise to US$33,000 (S$43,000) by grade 12.

It is the most expensive school in the chain run by Dubai's Gems Education, which is among the world's largest private school operators.

Founded by Indian-born billionaire Sunny Varkey, Gems caters to every price point, starting at as little as US$3,900 a year. But a boom in the emirate's financial sector has meant Dubai is home to a growing population of hedge fund traders and bankers willing to fork out premium prices.

Private schools are big business across the globe - and they tend to be pricey in most major hubs. In Britain, for instance, Nord Anglia Education has been looking to sell a stake at a US$15 billion valuation.

But Dubai is more lucrative than its peers because local rules make the city's public schools largely inaccessible to most expatriates.

That translates into big money in Dubai, where about 90 per cent of the population of 3.6 million is from overseas, giving businesses unparalleled opportunities to profit from the education system.