More than half of the Philippines' provinces are in drought as El Nino exacerbates hot and dry conditions typical for March, April and May
asia2 hours ago
Amanat Holdings on Sunday announced the launch of its social infrastructure platform (SIP) with the acquisition of the real estate property of Cambridge Medical and Rehabilitation Centre’s (CMRC) facility in Abu Dhabi for Dh46 million.
The transaction marks Amanat’s first investment in healthcare real estate and first in line with the company’s strategy to create a SIP which serves as an enabler for the growth and sustainability of the group’s portfolio companies.
“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,” Hamad Alshamsi, Amanat’s chairman, said.
“I believe this is another step in the right direction to optimising our portfolio and delivering sustainable shareholder returns,” he added.
The transaction will further diversify Amanat’s exposure across healthcare and education sectors. The 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.
Dr Mohamad Hamade, CEO of Amanat, said 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 SIP will target strategic real estate acquisitions with attractive yields to promote stable landlord and tenant relationships in the future,” he said.
Hamade said 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,” he added.
Amer Jeambey, head of Healthcare, said the acquisition of the real estate of CMRC comprises 6,000 square metres of land and a built-up area of about 6,600 square metres.
“The facility has two three-levelled building blocks with 106 inpatient licenced beds alongside rehabilitation facilities including 14 outpatient rooms, three gyms and a series of other amenities,” he said.
To a question, he said Amanat Holdings is keen to expand its footprint in healthcare and eduction sectors.
“We are working on more acquisitions and some deals are in the pipeline,” Jeambey said.
— muzaffarrizvi@khaleejtimes.com
More than half of the Philippines' provinces are in drought as El Nino exacerbates hot and dry conditions typical for March, April and May
asia2 hours ago
Court opened investigation into Sanchez's wife in response to a complaint by anti-corruption pressure group, whose leader is linked to the far right
europe2 hours ago
Chang'e-6 to return with soil samples from moon's far side; the mission expected to last 53 days
asia3 hours ago
The breed, prized for profitability and an ability to adapt to climate change, garners celebrity status in the Central Asian country
asia3 hours ago
Thousands of schools have suspended classes due to the heat, affecting more than 3.6 million students, education ministry data shows
asia3 hours ago
Despite the growing market share of domestic automakers, Teslas remain among the best-selling EVs in the Asian country
auto3 hours ago
The entire plan will see cow-breeding and poultry projects come up near the massive wheat farm and the dairy farm will form the third phase
uae3 hours ago
Modi, 73, remains resoundingly popular after a decade in office, and he is widely expected to win a third term
asia3 hours ago