UAE's GII to Acquire Stake in Saudi Health Company

Published September 14th, 2021 - 11:00 GMT
UAE's GII to Acquire Stake in Saudi Health Company
The deal will be sealed for around $600 million, co-founder Mohammed Alhassan told Bloomberg in an interview. (Shutterstock)
Highlights
GII company is also seeking investment expansion in India.

UAE-based Gulf Islamic Investments, GII, is planning to expand into Saudi Arabia with a deal to buy a stake in a Saudi healthcare company.

GII Ventures into Saudi Arabia

The deal will be sealed for around $600 million, co-founder Mohammed Alhassan told Bloomberg in an interview.

Medical care seems to be very profitable these days due to the pandemic, Alhassan commented: “We go where the money is and where the deals are. We have a lot of faith in Saudi.”

GII Saudi medical

The firm has allocated around $1billion for the expansion into KSA over the next year to 18 months, eyeing investments in logistics and cloud kitchens.

Recently, the privately held Shariah-compliant company has announced a joint venture with Germany’s Capital Bay Group for an “initial” 500 million fund exclusively for senior living-related property investments in Europe.

GII company is also seeking investment expansion in India.

 


© 2000 - 2021 Al Bawaba (www.albawaba.com)

You may also like