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HomeBusinessDubai’s GII Acquires Stake in Saudi’s Abeer Medical for Expansion

Dubai’s GII Acquires Stake in Saudi’s Abeer Medical for Expansion

Strategic Investment Aligns with Saudi Vision 2030 Goals

May 10, 2024
in Business, Vision 2030
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The Dubai-based Gulf Islamic Investments Group (GII), recognized for its adherence to Shariah investment principles, has recently expanded its portfolio by securing a minority share in Abeer Medical Company, a prominent healthcare provider in Saudi Arabia. The substantial investment of $160 million underscores GII’s strategic growth and diversification efforts.

This move is in sync with Saudi Arabia’s broader economic aspirations, particularly its Vision 2030 initiative which aims to bolster private sector participation within the healthcare industry. GII’s investment is expected to be a catalyst for the company’s entry into new markets.

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Abeer Medical Company, with a history spanning over a quarter-century, manages an extensive network of nearly 50 healthcare establishments across the kingdom and the larger Gulf area, including an array of hospitals, clinics, and pharmacies.

With ambitions to scale up its investment activities, GII is looking to allocate approximately $1 billion across various regions, including the United States, India, and the Gulf countries, over the upcoming year.

Tags: Abeer Medical CompanyGulf Islamic Investmentshealthcare investmentmarket expansionSaudi Vision 2030
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