Amanat Launches its Social Infrastructure Platform
September 12, 2021
Amanat Holdings PJSC (“Amanat” or the “Company”) the GCC’s largest healthcare and education investment company has announced the launch of its Social Infrastructure Platform with the acquisition of the real estate property of Cambridge Medical and Rehabilitation Centre’s (“CMRC”) facility in Abu Dhabi for AED 46 million. The transaction marks Amanat’s first investment in healthcare real estate. The acquisition is in line with Amanat’s strategy to create a Social Infrastructure Platform which serves as an enabler for the growth and sustainability of Amanat’s portfolio companies.
The transaction will further diversify Amanat’s exposure across healthcare and education sectors. The Social Infrastructure Platform aims to enable Amanat’s portfolio companies to grow, while providing sustainable long-term lease relationships. In turn, the Platform offers Amanat an opportunity to create a sizeable and diversified portfolio of real estate assets with a sustainable and resilient yield.
The acquisition of the real estate of CMRC comprises c. 6,000 square meters of land and a built- up area of c. 6,600 square meters encompassing 2 three-leveled building blocks with 106 inpatient licensed beds alongside rehabilitation facilities including 14 outpatient rooms, 3 gyms and a series of other amenities.
Hamad Alshamsi, Amanat’s Chairman said: “We are assessing a series of opportunities to support us in delivering solid and sustainable returns to our shareholders by investing in the real estate of our leading assets. This includes providing our investments with the right enablers to grow and develop whether through owning the real estate of the asset or investing in technology to further develop our investments. I believe this is another step in the right direction to optimizing our portfolio and delivering sustainable shareholder returns”.
Dr. Mohamad Hamade, CEO of Amanat, added: “The acquisition of CMRC’s Abu Dhabi real estate is another strategic move to create healthcare and education platforms while supporting them through synergistic and enabling platforms. Our Social Infrastructure Platform will target strategic real estate acquisitions with attractive yields to promote stable landlord and tenant relationships in the future. These investments will be tied to our involvement as an influential shareholder across corporate strategy, corporate governance, and corporate finance and where Amanat is working closely with the respective management teams to grow their return profiles. We believe this transaction marks one of many future opportunities in this space.”
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About Amanat Holdings PJSC
Amanat Holdings PJSC is the region’s largest integrated healthcare and education investment company with paid-up capital of AED 2.5 billion. Listed on the Dubai Financial Market (DFM) since 2014, Amanat has a mandate to establish, acquire and incorporate companies working in the healthcare and education sectors, and develop, manage, and operate these companies within the GCC and beyond. Amanat’s healthcare platform includes International Medical Center (IMC), a 300-bed multidisciplinary hospital based in Jeddah, Saudi Arabia; Sukoon, a provider of acute extended care, critical care and home care medical services in Jeddah, Saudi Arabia; the Royal Hospital for Women and Children (RHWC), a world-class hospital for women and children located in the Kingdom of Bahrain and Cambridge Medical and Rehabilitation Center (CMRC), a provider of specialized rehabilitation and long-term care, with facilities in Abu Dhabi and Al Ain in the UAE, and Dhahran in Saudi Arabia. Amanat’s education platform includes Abu Dhabi University Holding Company, a leading provider of higher education; and Middlesex University Dubai, the first overseas campus of the internationally renowned Middlesex University in London and BEGiN, a US-based award- winning education technology company. Amanat also owns the real estate assets of the North London Collegiate School in Dubai, UAE.