Al Mal Capital REIT, the inaugural REIT listed on the Dubai Financial Market, has ventured into the healthcare sector by acquiring NMC Royal Hospital located in Dubai Investments Park.
While financial specifics were not disclosed, AMCREIT confirmed that this acquisition marks its sixth asset, elevating the total portfolio value to about AED 1.4 billion (US$380 million).
Managed by NMC Healthcare, the property includes two hospital blocks and a fully leased commercial building, covering a total area of 492,332 square feet. The hospital provides approximately 120 inpatient beds, comprehensive outpatient services, a pharmacy, and an emergency response unit.
The entirely leased commercial building contributes a steady, recurring income stream, enhancing the hospital’s long-term operational performance.
The hospital blocks are leased under a long-term structured agreement, with a remaining Weighted Average Unexpired Lease Term (WAULT) of about 17 years, ensuring robust cash flow security and sustainable returns for investors.
Naser Al Nabulsi, Vice Chairman and CEO of Al Mal Capital, remarked: “This acquisition marks a pivotal milestone in AMCREIT’s growth trajectory. By expanding into the healthcare sector, we are enhancing the REIT’s investment mandate to encompass essential infrastructure assets that provide resilient, long-term returns. AMCREIT is now strategically positioned to capitalize on growth opportunities in high-demand sectors vital to the UAE’s long-term economic development.”
“Collaborating with a prominent operator such as NMC Healthcare guarantees a high-quality, income-generating asset with robust operational credentials. This partnership aligns with our strategic vision to diversify our portfolio, bolster cash flow predictability, and provide sustained value to our unitholders,” he added.
As healthcare swiftly emerges as a resilient sector in the UAE, propelled by demographic growth and rising demand for private healthcare services, this acquisition reflects a proactive strategy to fortify AMCREIT’s position in specialized, high-demand real estate sectors.
Under the strategic guidance of Al Mal Capital and the support of Dubai Investments, the REIT remains committed to disciplined investment management, focusing on acquiring high-quality assets that produce resilient income streams and long-term value.
