Dubai – Mubasher: Saudi market is a key market for Amanat Holdings, CEO Shamsheer Vayalil said, adding that the UAE-based company invests 50% of its portfolio in the kingdom.

The healthcare and education start-up also plans to invest outside Saudi Arabia, Vayalil noted during an interview with CNBC Arabia.

On Tuesday, the Dubai-listed firm acquired a 35% beneficial interest in Abu Dhabi University Holding Company for a total consideration of AED 320.4 million.

In November 2017, Amanat’s previous chairman Faisal Bin Belhoul said that the firm was planning to invest AED 1 billion in healthcare and education sector in Saudi Arabia and the UAE.

Over the last period, Amanat Holdings raised its stake in Taaleem Holdings to 21.7% by taking over an additional stake of 5.3% for a total value of AED 52 million.

Amanat’s profits increased to AED 42.3 million during the full-year 2017 due to higher revenues, up from AED 35.8 million a year earlier revenues.