JSE-listed higher education provider, Stadio says that its wholly-owned subsidiary, Stadio Corporate Services, has entered into a sale agreement to purchase approximately 7.8446 hectares of vacant land located in Durbanville, as part of its plans to roll out a new campus.
Stadio makes up five institutions offering a variety of qualifications from higher certificates to masters degrees and doctorate, through distance and contact learning, to almost 30,000 students.
Brands within the Stadio group include film school ADDA, Embury, fashion institution LISOF, and Southern Business School.
Stadio said it intends to develop the property with the aim of opening the doors of its new campus in 2021.
“It is anticipated that the new campus will accommodate several faculties, including Education, Commerce, Law and the Creative Industries (including, fashion design, advertising, marketing and communication and the film industry), as well as future faculties to be developed and acquired by Stadio,” the group said.
Stadio also noted that it is actively exploring the feasibility of developing a School of Engineering and a Health, Sciences and Medical School, the establishment of which still requires further engagement with various role-players, including the Council for Higher Education (CHE), the South African Qualifications Authority (SAQA), the Department of Higher Education and Training (DHET) and other professional councils.
“It is further envisaged that the new campus will accommodate between 4,000 and 5,000 contact learning students over time. Stadio will also embark on the registration of several distance learning programmes to support its vision of widening access to higher education.”
The group said it intends to fund the acquisition through existing cash resources and bank funding.
It said that student numbers are currently approximately 26,500.
“Considering the second semester intake and further anticipated acquisitions by Stadio, student numbers could reach 30,000 by the end of 2018.”