Dubai Investments buys 20% stake in AED465 million medical centre

Dubai / WAM

Dubai Investments announced that it has expanded its healthcare portfolio with a 20 percent stake in an equity part- nership in the AED465 million Clemenceau Medical Centre, a new development which will offer specialty care across multiple disciplines in Dubai Healthcare City Phase 2.
The equity partnership with Khansaheb Investments (55%) and CMC SAL (25%) is the latest addition to the Dubai Investments healthcare portfo- lio, which also includes an equity partnership for a multi-disciplinary hospital and day care clinics in Dubai, operated under the world renowned British teaching hospital, Ki-ng’s College Hospital London. Construction at Clemenceau Medical Centre is now 68 percent complete, and the 110-bed specialty care facility is expected to open in June 2019.
“Healthcare is one of the core development sectors of the nation, and there are concerted initiatives to strengthen it and bring world-class medical facilities to the region. Through our equity participation in the new Clemenceau Medical Centre in Dubai, we are underpinning our focus on strategic investments in the sector that will contribute to the well-being of the people and improve upon the reputation of the Emirate as a hub for world-class medical care,” said Khalid bin Kalban, Managing Director and CEO of Dubai Investments.
“The investment is part of a diversification strategy into identified sectors which achieve key business objectives for Dubai Investments, align with the long term plans of the UAE government and play an important role in supporting the momentum of the Dubai economy.”