Dubai, UAE — Al Mal Capital REIT (AMCREIT), the Dubai Financial Market-listed real estate investment trust and subsidiary of Dubai Investments, has acquired the real estate asset of NMC Royal Hospital, located in Dubai Investments Park (DIP). The deal, which marks AMCREIT’s entry into the healthcare real estate sector, lifts its portfolio value to approximately AED 1.4 billion.
Key Details of the Acquisition
- The property spans 492,332 square feet, comprising two hospital blocks plus a fully leased commercial building.
- The hospital facility includes nearly 120 inpatient beds, outpatient services, a pharmacy, and an emergency response unit.
- NMC Healthcare will continue operating the hospital under a long-term lease agreement with a residual lease term (WAULT – Weighted Average Unexpired Lease Term) of around 17 years, ensuring steady income for AMCREIT.
Significance & Strategic Implications
- This acquisition represents AMCREIT’s first investment in the healthcare sector, signaling its strategy to diversify beyond more traditional real estate holdings.
- AMCREIT now holds six assets in its portfolio. The hospital real estate strengthens the asset mix with long-term cash flows from a critical sector.
- For investors, the deal offers more predictable returns, given the long lease, essential nature of hospital operations, and a fully leased commercial component.
Background & Context
- NMC Healthcare was once embroiled in a debt and governance scandal earlier in the decade, which led to significant restructuring. Since March 2022, its core businesses have operated as a restructured entity under new ownership/management.
- Prior to this acquisition, AMCREIT raised AED 210 million via a follow-on public offering in August 2025, aiming to fund further asset acquisitions.