The UAE-based healthcare services provider Burjeel Holdings, which is aiming to go public later this year, announced its entry into Saudi Arabia on Wednesday and said it will invest up to $1 billion in the Arab world’s biggest economy by 2030.
The company has joined forces with Saudi Arabia’s Ministry of Investment and aims to partner with various healthcare organisations in the kingdom. It will explore investment opportunities through joint ventures and public-private-partnership models, under the agreement.
Founder and chief executive Shamsheer Vayalil said Saudi Arabia is a key focus market for Burjeel Holdings.
"We are proud to commit to this [memorandum of understanding] with the Ministry of Investment — a significant step in our entry to the kingdom,” Mr Vayalil said.
“We are excited about the many opportunities to support the kingdom’s healthcare ambitions and to bring our expertise to a sector, which is integral to the delivery of Vision 2030."
Founded in 2007, Burjeel Holdings is one of the leading private healthcare services providers in the UAE, with a growing presence in the wider Gulf region. It has a network of 61 assets, including 39 hospitals and medical centres, as well as pharmacies and other allied services.
It is seeking to raise at least $750 million from an initial public offering in Abu Dhabi this year, Bloomberg reported earlier this month.
In May, UAE-based VPS Healthcare consolidated its healthcare assets in the UAE, Oman and the rest of the Gulf under a holding company called Burjeel Holdings as part of the next phase of its expansion. The move created one of the largest integrated health networks in the region.
Demand for healthcare services has grown amid the Covid-19 pandemic. Companies are consolidating their assets to gain scale and add additional services including diagnostics, testing and other support services to better serve patients and increase their market share.
In January, Abu Dhabi holding company ADQ merged its healthcare subsidiaries with Alpha Dhabi’s Pure Health Medical Supplies to streamline their portfolios, creating the UAE’s largest healthcare provider.
The healthcare sector in Saudi Arabia is also undergoing a massive transformation as part of its Vision 2030 strategy.
Saudi Arabia spends the most on healthcare in the GCC, according to Statista show. It had the highest share of its gross domestic product spent on healthcare compared to the region last year.
The kingdom also has one of the highest densities of medical professional per thousand residents in the region, the report said.
As per the new agreement, Burjeel intends to establish various healthcare offerings across Saudi Arabia. They include speciality medical centres, day surgery capability, digital health ventures, super speciality hospitals and clinical research programmes. The company has also committed to explore research and innovation in the areas of cancer prevention, screening and therapy.
In addition to healthcare services delivery, Burjeel will also work with the Ministry of Investment in areas of humanitarian aid and international healthcare volunteering, the company said.
“The group is in discussions with various private sector providers and leading public sector hospitals in Saudi to deliver these services and expects to begin formalising collaboration agreements over the coming months,” it said.
The company reported revenue of nearly Dh3.4bn ($912.4m) in the 2021 fiscal year, representing an 18 per cent compound annual growth rate over the three-year period from 2019 to 2021.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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