Amanat exits education real estate asset for Dhs453m, delivering strong returns

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Amanat Holdings, the UAE-listed healthcare and education investment firm, has completed the sale of its education real estate asset for Dhs453m ($123m).

The transaction delivers an unlevered cash-on-cash multiple of 1.7x and an internal rate of return (IRR) of 10 per cent, generating a net cash return of Dhs294m ($80m). The exit underscores the company’s strategy of disciplined investment, portfolio growth, and value-led monetization.

The divested asset comprises the real estate of North London Collegiate School, which Amanat acquired in June 2018 for Dhs360m ($98m), with an additional Dhs33m ($9m) invested in capital expansion, bringing total investment to Dhs393m ($107m).

Amanat’s chairman, Dr. Shamsheer Vayalil, said: “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 monetization opportunities that generate further shareholder value.”

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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 monetization. The Dhs453m 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.”

The exit highlights Amanat’s “identify, grow, monetise” approach, with proceeds earmarked for reinvestment into attractive opportunities in its core education and healthcare portfolio.