Amanat Holdings, GCC’s largest healthcare and education investment company has acquired real estate assets of Cambridge Medical and Rehabilitation Centre (CMRC) in Abu Dhabi for $12.5 million.
The transaction, which was completed through Amanat’s social infrastructure platform, is the company’s first healthcare-related real estate investment as part of its strategy to diversify its portfolio.
CMRC’s real estate transaction includes around 6,000 square meters of land and 6,600 square meters of built-up space, which includes two three-leveled building blocks with 106 inpatient licensed beds, 14 outpatient rooms, three gyms, and a variety of other amenities.
Dr. Mohamad Hamade CEO- Amanat
“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.”
The Dubai-based Amanat intends to continue investing in its portfolio of investments in companies either by acquiring the underlying real estate assets or by investing in technology.
Mr. Hamad Alshamsi, Amanat’s Chairman noted that Amanat is assessing a series of opportunities to support in delivering solid and sustainable returns to its shareholders by investing in the real estate of its leading assets. This includes providing 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.
In March this year, Amanat bought Cambridge Medical for $232 million in one of the region’s largest healthcare deals from TVM Capital Healthcare, a private equity firm, and funded the transaction through a $110 million bank loan and cash.
