Amanat Holdings, the Dubai-listed company that specialises in healthcare and education sector investments across the GCC, has acquired real estate assets of Cambridge Medical and Rehabilitation Centre in Abu Dhabi as it continues to expand its portfolio of investments.
The Dh46 million ($12.53m) deal, made through Amanat’s social infrastructure platform, is the first healthcare sector real estate investment for the company, Amanat said in a statement to the Dubai Financial Market, where its shares are traded.
The transaction will further diversify the company's exposure across the healthcare and education sectors.
“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,” Mohamad Hamade, chief executive of Amanat, said.
Amanat plans to further invest in developing its portfolio of companies by either owning the underlying real estate assets or investing in technology.
“I believe this is another step in the right direction to optimising our portfolio and delivering sustainable shareholder returns,” he said.
Amanat acquired Cambridge Medical for $232m in one of the region's biggest healthcare sector deals in March this year.
It bought the CMRC from TVM Capital Healthcare, a private equity company and funded the transaction through a Dh405m bank loan and cash, it said in a statement to the DFM at the time.
“With this transaction, Amanat has fully [used] its paid-up capital of Dh2.5 billion and now manages close to Dh3bn in assets,” its chairman Hamad Al Shamsi said in March.
CMRC, a specialist provider of post-acute care and rehabilitation services, has three units with a capacity of more than 250 beds in the UAE and Saudi Arabia. It posted a net profit of $15.2m last year on revenue of $75.3m.
CMRC’s real estate assets includes about 6,000 square metres of land with two three-storey buildings that house inpatient and outpatient facilities and three gyms, the company said on Sunday.
Amanat’s social infrastructure platform will help the company to build a “sizeable and diversified portfolio of real estate assets with a sustainable and resilient yield”, the company said.
“Our social infrastructure platform will target strategic real estate acquisitions with attractive yields to promote stable landlord and tenant relationships in the future,” Mr Hamade said.
“This transaction marks one of many future opportunities in this space.”
Amanat swung to a net profit in the second quarter on the back of a recovery in its healthcare assets, streamlining of costs and a gain from the sale of UAE education provider Taaleem.
Its net income for three months to the end of June climbed to Dh203.8m, compared to a loss of Dh5.1m in the same quarter of 2020, the company said in a statement in August.
The team
Photographer: Mateusz Stefanowski at Art Factory
Videographer: Jear Valasquez
Fashion director: Sarah Maisey
Make-up: Gulum Erzincan at Art Factory
Model: Randa at Art Factory Videographer’s assistant: Zanong Magat
Photographer’s assistant: Sophia Shlykova
With thanks to Jubail Mangrove Park, Jubail Island, Abu Dhabi
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Company%20profile
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Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
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TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
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The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
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Rating: 4.5/5
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
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- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
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Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
Jeff Buckley: From Hallelujah To The Last Goodbye
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COMPANY%20PROFILE
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Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
