By: Amr Adel

Dubai-Mubasher: Dubai-listed Amanat Holdings is considering a number of acquisitions in the healthcare and education sectors in UAE and Saudi Arabia, said Chairman Faisal Bin Juma Belhoul.

He added, in a telephone interview with Mubasher, that his company will be focusing on those major markets in 2016, while considering expansion in other Gulf markets.

Amanat is in talks to complete an acquisition in the first half of 2016, revealed the chairman, yet he refused to unveil more details.

Saudi Arabia and the UAE account for 80% of total expenditure in the healthcare sector in GCC region. 

The company spent 20% of its capital in 2015 to make two acquisitions worth AED 425 million ($116 million) in the healthcare sector, said the chairman, adding that it is currently studying long-term partnerships with international institutions to carry out projects in the GCC healthcare and education sectors.

In a reply to a question on Amanat’s finance plans in 2016, Belhoul said that the company has sufficient liquidity for its expansion plans and new acquisitions. However, he noted that there are open discussions with banks with the aim of searching for the best funding mechanism.

Amanat is adopting a prudent policy in asset valuations, he said, noting that the company is expected to post positive financial results in its first year of operation.

The Dubai-listed company posted AED 7 million ($1.9 million) in the first nine months of 2015.

He pointed out that investments in the healthcare and education sectors were not affected by lower oil prices which weighed on Gulf economies.

Translated by: Julian Nabil