Dubai, UAE, July 23, 2007: Amanah Capital, the Dubai-based asset Management Company, has signed a Memorandum of Understanding (MoU) with Emaar Healthcare Group LLC (EHG), the wholly-owned subsidiary of Emaar Properties PJSC, to develop specialist healthcare facilities in Abu Dhabi. EHG will create integrated healthcare clusters that cover the entire spectrum of medical needs, with special emphasis on women and children.
Mr Saleh Al Hamed, Chief Executive Officer, Amanah, and Mr Omar Al Shunnar, Executive Director, Emaar Healthcare Group, signed the MoU in Dubai, today. They announced that the first project to be rolled out will be a specialised medical facility for women and children to be developed on 300,000 sq ft of land in a prime location in the heart of the capital city.
EHG will create a new benchmark in medical care with the premium hospital offering value-added healthcare services and featuring state-of-the-art technology. The portfolio of the secondary care hospital will comprise gynaecology and obstetrics, neonatology, paediatric medicine and surgery, and family medicine to better serve Abu Dhabi residents.
Mr Al Hamed said: "As the healthcare subsidiary of Emaar Properties PJSC, EHG has already made significant inroads in the sector through its commitment to upholding international standards in healthcare practices. The integrated approach of EHG aligns with the UAE Government Strategy for healthcare that encourages the private sector to play a bigger role in developing the healthcare system in the country. It also reflects the vision of our Chairman His Highness Sheikh Rashed Bin Hamdan Al Nahyan in diversifying the business model, which is imperative in today’s world. Amanah’s partnership leverages on the goal of Emaar Healthcare Group to be a global healthcare provider.”
He added: “Healthcare is one of the pivotal growth sectors of any economy as it has a significant societal role. It is also one of the fastest-growing sectors – in terms of demand – making it important for healthcare providers to develop projects that support the society by providing world-class medical service. Our partnership will work towards enhancing the healthcare sector of the country by setting new benchmarks and promoting international best practices.”
Mr Al Shunnar said: “EHG is driven by a vision to roll out an integrated approach to healthcare that brings in international advances in medical technology for the benefit of the public and medical professionals. EHG is working to create Centres of Excellences in diverse medical fields, especially in those relevant to the region. One of the pressing concerns here is the need for world-class centres specialised in maternal and perinatal conditions in the UAE.”
He added: “The need for maternal and perinatal disease treatment is increasing in the region. The new facility is therefore focused on providing dedicated medical care for women and children in Abu Dhabi. The Hospital medical portfolio of this secondary care will also specialize in the entire gamut of family medicine that meets modern-day healthcare requirements.”
Amanah Capital is an investment banking and asset management company based in Dubai, focused on providing financial products and services based on Islamic principles. Amanah has a registered office at the Dubai International Financial Centre (DIFC) and an operating license from the Dubai Financial Services Authority (DFSA). The company, established in 2006, has set its eyes on rapid growth through an innovative approach to fund management and alliances with industry leaders.
EHG is the healthcare subsidiary of Emaar Properties, the Dubai-based property developer with a significant presence in 16 countries globally. Emaar had diversified into healthcare in line with its Vision 2010 to become one of the world’s most valuable companies through geographic expansion and business segmentation.
EHG has a development outlay of AED 18.35 billion (US$5 billion) to develop world-class medical centres in the emerging markets of the Middle East and North Africa, the Indian Subcontinent and South East Asia.
EHG had recently joined hands with Joslin Diabetes Centre and Harvard Medical Faculty Physicians, in association with the Dubai Department of Health and Medical Services to set up an advanced Diabetes Centre in Dubai.
