Dozens of universities--primarily from the United States, United Kingdom, and Australia--are eyeing the Gulf region as a largely untapped reservoir of academic potential and economic opportunity. During the last few years, UAE states like Dubai, Abu Dhabi, Qatar, and Ras al Khaymah have spent billions to entice top universities. And many colleges are responding--examples include New York University's campus in Abu Dhabi; Michigan State University's school in Dubai; and big names like Cornell, Northwestern, and Carnegie Mellon that have set up shop in Qatar. Typically, Western universities begin their foray into the Gulf by teaming with local investors. The colleges oversee the academic infrastructure while the investors front all operational costs. The partnerships are complicated. Some investors are mining the UAE's educational zeal for profit. In other cases, schools join forces with the region's numerous royal families, who are mostly interested in furthering their states' economies and global prestige. Establishing a presence in the region can be as perilous as it is potentially fruitful. In this article, the author discusses opportunities and pitfalls for universities expanding in the Persian Gulf.