Dubai Investments acquires stake in $126m healthcare project

Dubai Investments buys 20% stake in Clemenceau Medical Centre, a new project planned in phase 2 of Dubai Healthcare City
Dubai Investments acquires stake in $126m healthcare project
Khalid Bin Kalban, managing director and CEO of Dubai Investments. (ITP Images)
By Sam Bridge
Mon 26 Nov 2018 01:44 PM

Dubai Investments has grown its healthcare portfolio with a 20 percent stake in an equity partnership in the AED465 million ($126.5 million) Clemenceau Medical Centre, a new project planned in phase 2 of Dubai Healthcare City.

The equity partnership with Khansaheb Investments (55 percent) and CMC SAL (25 percent) is the latest addition to the Dubai Investments' healthcare portfolio, which also includes an equity partnership for a multi-disciplinary hospital and day care clinics in Dubai under British teaching hospital King’s College Hospital London.

Construction at the Clemenceau Medical Centre is now 68 percent complete, and the 110-bed specialty care facility is expected to open June 2019, a statement said.

Khalid Bin Kalban, managing director and CEO of Dubai Investments, said: “Healthcare is one of the core development sectors of the nation, and there are concerted initiatives to strengthen it and bring world-class medical facilities to the region.

"Through our equity participation in the new Clemenceau Medical Centre in Dubai, we are underpinning our focus on strategic investments in the sector that will contribute to the well-being of the people and improve upon the reputation of the emirate as a hub for world-class medical care.”

CMC Dubai Healthcare City will offer six operating theatres, 44 consultation clinics, cardiac centre, advance and robotic surgery suite, and wide-ranging inpatient and outpatient services.

It is managed by Clemenceau Medicine International and part
of the Clemenceau Medicine Network that includes the Clemenceau Medical Centre in Beirut, Lebanon and Clemenceau medical centre in Riyadh.

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