Dubai-headquartered investment company Amanat Holdings can now access up to a billion dirhams war chest to facilitate new acquisitions across the Middle East, its chief executive has stated.
During an interview with CNBC Arabia, Mohamad Hamade stated that his firm will prioritize investments in Saudi Arabia, the UAE, and Egypt.
The exec also claimed that Amanat’s investment portfolio produced returns of 235 million dirhams after the half-year term, making up approximately 10 percent of the value of the portfolio.
“Currently, the liquidity has reached more than 700 million dirhams as cash for investment, but we can increase this amount to one billion or more if we borrow from the banks,” Hamade said.
On Sunday, Amanat finalized the sale of its minority 13.13 percent share in Jeddah Hospital International Medical Center for SR443 million (US$118 million).
The divestment led to a cash return of 100 million dirhams, and Amanat expects it to yield a gain of 40 million dirhams.
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