Al Mal Capital REIT (AMCREIT), listed on the Dubai Financial Market (DFM) and a subsidiary of Dubai Investments, has acquired NMC Royal Hospital in Dubai Investments Park (DIP).
Financial details of the transaction have not been disclosed.
The property, which is operated by NMC Healthcare, is AMCREIT’s sixth asset, bringing its total portfolio value to approximately 1.4 billion UAE dirhams ($381 million).
The acquisition follows AMCREIT’s AED 210 million capital raise in August through a follow-on public offering, with funds earmarked for portfolio expansion through acquisitions of high-quality, income-generating assets.
NMC Royal Hospital is a 120-bed inpatient facility comprising two hospital blocks and a fully leased commercial building, totalling 492,332 square feet.
Naser Al Nabulsi, Vice Chairman and CEO of Al Mal Capital, said the acquisition has broadened the REIT’s investment mandate to include essential infrastructure assets that deliver long-term returns.
AMCREIT is a closed-ended real estate investment trust managed by advisory and asset management firm Al Mal Capital.
(Writing by Bindu Rai, editing by Seban Scaria)
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