There are “substantial opportunities for investors and developers” in Saudi Arabia’s healthcare sector, according to JLL, a real estate, investment management consultancy.
Highlighting the promising landscape for healthcare infrastructure and medical service delivery, JLL recently advised Dubai-based Gulf Islamic Investments (GII) on a $530 million (AED1.9 billion) deal to acquire a stake in Saudi Arabia’s largest provider of dental and dermatology care.
GII bought a majority stake in Almeswak Dental Clinics from Saudi-based private equity firm Jadwa Investment Company.
Head of Healthcare Consulting – MEA at JLL, Sandeep Sinha, said: “The healthcare sector in the Kingdom is entering a new era of opportunities, driven not only by the goals outlined by Saudi Vision 2030 to enhance the quality of life, but also the government’s focus on boosting healthcare infrastructure.
“Saudi Arabia is witnessing an increase in private investment into the sector, with several upcoming healthcare PPP projects. This is a strong testament to the growing investor interest in the Kingdom’s healthcare industry.”
Co-CEO and co-founder of GII, Mohammed Al Hassan, said: “This landmark transaction is a major milestone for our continued growth and investment in the ever-expanding and exciting healthcare sector in Saudi Arabia.”
Pankaj Gupta, co-CEO and co-founder of GII, added: “The Kingdom’s rapidly increasing healthcare sector offers many attractive opportunities for investors as the largest healthcare market in the Gulf region.
“We look forward to tapping into its significant potential and further expanding our footprint as we explore a number of unique growing opportunities”.
The transaction also underscores the growing appeal of healthcare assets across the wider GCC region where the medical sector has been booming, led by an improvement in incomes and government investment in medical infrastructure for their citizens.
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