Dubai Investments has announced plans to invest in a multi-disciplinary hospital and several day care clinics in Dubai for King’s College Hospital London, the world-renowned British teaching hospital, in partnership with other investors.
Dubai Investments said in a statement that it is contributing 26.75 percent of the total equity financing for the project.
The total project cost, including debt financing, is estimated to be approximately $200 million, it added.
The 80-100 bed hospital and day care clinics in Dubai will be fully integrated with King’s College Hospital’s facilities in London. The clinics will be opened at prime locations in Dubai towards the end of 2016 and in 2017 while the multi-specialty King’s College Hospital at Dubai Hills will become operational in 2018, the statement said.
Khalid Bin Kalban, managing director and CEO of Dubai Investments, said: “Dubai Investments is privileged to partner with King’s College Hospital London as part of its strategic expansion plans into the healthcare business through its industrial subsidiary, Dubai Investments Industries.
"We look forward to working closely with the King’s College Hospital management to support the future healthcare needs of the UAE community. This new equity partnership is integral to Dubai Investments’ strategy to consolidate its presence in diversified businesses, amidst growing market opportunities the healthcare sector presents.”
King’s College Hospital Dubai will offer four main specialties – Paediatrics, Endocrinology, Orthopaedics, Obstetrics and Gynaecology – as well as other acute and general medical services.
Ashmore Group plc, a specialist emerging markets investment manager listed on London Stock Exchange, will act as the investment manager for the project.For all the latest health tips & news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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