Amanat Holdings, a leading listed operator of healthcare and education assets in the region, said it has completed the sale of its education real estate asset for AED 453 million (US$123.35 million).
The transaction will generate a net cash return of AED 294 million (US$80 million), delivering an unlevered cash-on-cash multiple of 1.7x and an internal rate of return of 10 per cent.
Amanat completes school property sale deal
The asset comprises the real estate of North London Collegiate School on Ras Al Khor Road, acquired by Amanat in June 2018 for AED 360 million (US$98 million). Amanat subsequently funded a capital expansion of AED 33 million (US$9 million), increasing the company’s total investment to AED 393 million (US$107 million).
Amanat has been following a strategy of ‘identify, grow, monetise’, which focuses on investing in high-potential assets, accelerating their growth, and monetising them at the right time, with proceeds used to unlock value for shareholders and to generate capital to invest in similarly attractive opportunities.
Dr Shamsheer Vayalil, Amanat’s Chairman, commented: “The sale of our non-core education real estate asset at a compelling valuation is a testament to Amanat’s ability to identify, grow, and strategically exit our high-quality investments. This transaction broadens our strategic options and reflects our continued focus on unlocking value and generating superior returns for shareholders.
“Moving forward, we remain committed to growing our market-leading education and healthcare businesses whilst at the same time delivering on monetisation opportunities that generate further shareholder value.”
John Ireland, Chief Executive Officer, added: “We are pleased to have completed the sale of our education real estate investment at a premium to our original investment, delivering a compelling financial return. It demonstrates the strength of Amanat’s investment model – from disciplined entry and portfolio development to value-led monetisation.
“The AED 453 million in proceeds from this transaction enhances our balance sheet and provides flexibility to return value to shareholders and deploy capital into new opportunities that are aligned with our strategic priorities. We remain focused on scaling our high-performing assets and continuing to deliver strong and sustainable shareholder value.”
