Al Mal Capital REIT, the first REIT listed on the Dubai Financial Market, has made its first investment in the healthcare sector by acquiring NMC Royal Hospital in Dubai Investments Park (DIP). This acquisition is a significant step in the REIT’s growth, expanding its investment portfolio, which now totals approximately AED 1.4 billion (US$ 380 million).
While the financial details of the deal were not disclosed, the acquisition marks AMCREIT’s sixth asset and a pivotal move into the UAE healthcare market. The hospital complex consists of two hospital blocks and a fully leased commercial building, covering a total area of 492,332 square feet. The healthcare facility includes 120 inpatient beds, extensive outpatient services, a pharmacy, and an Emergency Response unit.
Strategic Investment in Healthcare
This acquisition represents a strategic diversification for AMCREIT, which aims to broaden its portfolio to include essential infrastructure assets that offer resilient long-term returns. The facility is leased under a long-term structured agreement with a residual Weighted Average Unexpired Lease Term (WAULT) of approximately 17 years, ensuring stable cash flow security for investors.
Naser Al Nabulsi, Vice Chairman and CEO of Al Mal Capital, stated: “This acquisition marks a defining milestone in AMCREIT’s growth. Entering the healthcare sector allows us to leverage high-demand sectors and generate sustainable returns for our unitholders.”
Expanding Healthcare in the UAE
The UAE’s healthcare sector has been experiencing rapid growth, driven by demographic changes and a rising demand for private healthcare services. The acquisition aligns with the broader economic goals of the UAE, providing critical healthcare infrastructure that contributes to the nation’s long-term development.
With the strategic support from Dubai Investments, AMCREIT is poised to strengthen its position in the specialized real estate sector, targeting high-quality assets that offer resilient income streams and long-term value.
