UAE-based Amanat Holdings has announced the launch of its social infrastructure platform with the purchase of the real estate property of Cambridge Medical and Rehabilitation Centre’s facility in Abu Dhabi for AED46 million ($12.5m).
The acquisition marks Amanat’s first investment in healthcare real estate. Earlier this year the GCC’s largest healthcare and education investment company announced that it had bought Cambridge Medical and Rehabilitation Centre in a deal worth $232m from private equity firm TVM Capital Healthcare.
The latest acquisition involves around 6,000 square metres of land and a built-up area of almost 6,600 square metres, including two three-leveled building blocks with 106 inpatient licensed beds alongside rehabilitation facilities including 14 outpatient rooms, three 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 optimising our portfolio and delivering sustainable shareholder returns.”
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.
Dr. Mohamad Hamade (pictured above), CEO of Amanat, added: “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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