Latest news with #Dhs1.03bn
Gulf Business
14-03-2025
- Business
- Gulf Business
Dubai Investments posts 21% rise in 2024 profit, eyes growth opportunities
Image: Supplied DFM-listed The group's total income grew to Dhs 4.66bn, mainly driven by the sale of properties amounting to Dhs1.03bn due to strong demand for real estate projects and efficient execution of the Danah Bay project on Al Marjan Island in Ras Al Khaimah and higher rental income due to occupancy levels maintained in DIP and acquisition of additional assets in Al Mal Capital REIT. Dubai Investments' total assets grew to Dhs22.10bn by the end of 2024, up from Dhs21.44bn in 2023. The group's equity attributable to owners stood at Dhs14.11bn. With a net debt to total attributable equity ratio of 21.9 per cent, the group continues to maintain strong liquidity levels, underscoring the group's robust financial position and resilience across economic cycles. In line with its commitment to delivering value to shareholders, the board of directors has proposed a cash dividend of 18 per cent (Dhs 0.18 per share) for the year 2024, reinforcing Dubai Investments' focus on enhancing shareholder returns while maintaining a strong financial position and sustainable growth trajectory. Commenting on the full-year results, Khalid Bin Kalban, vice chairman and CEO of Dubai Investments, said: 'Dubai Investments' strong financial performance in 2024 has laid a robust foundation for sustained expansion and long-term growth. Dubai Investments remains focused on accelerating growth by actively evaluating investment opportunities across MENA and other regions, exploring strategic divestments, and assessing select group companies for potential IPOs. These initiatives align with the group's vision to enhance market presence, maximise shareholder value, and drive sustainable growth in the years ahead.' Dubai Investments: Future outlook The group will launch several mixed-use real estate projects in the UAE whilst remaining focused on the timely execution of projects in hand. The group anticipates strong growth and remains optimistic about the real estate sector. The construction of the group's Violet Tower project is progressing steadily, supported by healthy off-plan sales and remaining on track for completion by Q4 2026. A key priority is the continued expansion of the Al Mal Capital With a long-term vision for impact-driven investments, Dubai Investments is strengthening its footprint in the healthcare, education, financial services, artificial intelligence, and business services sectors. The group remains committed to nurturing and scaling investments in these essential industries, reinforcing its role in supporting community development and regional economic progress. A disciplined approach to portfolio optimisation remains a priority. The group continues to monitor and reassess non-core assets to strengthen its market presence and drive sustainable growth in the years ahead.
Gulf Business
04-03-2025
- Health
- Gulf Business
How Dubai Healthcare City is enabling innovation in the sector
Image: Supplied As Dubai continues to cement its status as a global hub for healthcare and medical tourism, Dubai Healthcare City (DHCC) is key to this transformation. With a robust ecosystem that integrates world-class healthcare services, and strategic partnerships, DHCC is redefining the future of patient care and medical innovation. In this interview, Allae Almanini, COO, and Jaffar Bin Jaffar, director of Partnerships at Dubai Healthcare City Authority, discuss DHCC's role in shaping Dubai's healthcare landscape, leveraging AI-driven solutions, and attracting global healthcare leaders to solidify the emirate's position as a premier medical destination. Dubai Healthcare City (DHCC) has emerged as a key player in Dubai's healthcare ecosystem. Could you provide insights into its healthcare services performance and how DHCC has contributed to advancing the sector and Dubai's position as a healthcare hub? Allae Almanini: With more than 195 clinical facilities and 130 regional headquarters of global companies, we provide a robust ecosystem with a focus on high-quality specialised healthcare services to enhance healthcare delivery and meet the growing demands of the sector. Following the recently amended law for Dubai Healthcare City (DHCC) to solidify Dubai's position as a global healthcare hub, we continue to play a key role as Dubai's enabling healthcare and wellness destination. We have continuously worked to develop an enabling ecosystem that allows our partners to expand their operations and enhance their specialised healthcare offerings. By attracting local and international expertise, we have diversified our services and strengthened our position. This approach is extending into DHCC's Phase 2, with a strong focus on preventive care and sustainable wellness solutions. Since 2019, we have attracted Dhs1.03bn in strategic investments, creating an environment where healthcare innovation and investment can thrive. Dubai Healthcare City (DHCC) recently partnered with the AI & Quantum Intelligence Institute (AIQII) to launch an AI-driven medical claims analysis solution. How will this innovation shape the future of healthcare operations within DHCC? Jaffar Bin Jaffar: We can see healthcare providers increasingly adopting more AI-driven tools and solutions across the world. Our recent strategic partnership with the AI & Quantum Institute (AIQII) marks a major step toward an AI-driven ecosystem. This partnership optimises revenue cycle management for more than 300 healthcare providers within our ecosystem, streamlining administrative processes, improving first-pass acceptance rates and reducing claim denials. This will not only enhance operational efficiency but also foster sustainable financial practices within the healthcare sector. With the UAE's new basic health insurance mandate increasing medical claims volume, this AI solution will help our providers process claims with greater accuracy, accelerating reimbursements and ensuring compliance with coding and policy regulations, ultimately reducing financial strain on healthcare providers. As the first healthcare free zone to integrate AI into medical claims management, we set a new benchmark for innovation, paving the way for future AI-driven advancements that will enhance patient care. The AI initiative aims to improve claims acceptance rates and reduce administrative burdens. What tangible benefits do you expect healthcare providers within DHCC to experience as a result of this AI-driven solution? Jaffar Bin Jaffar : The AI-driven solution will simplify the reimbursement process by automating claim analysis, minimising manual intervention and identifying recovery opportunities. It ensures compliance with policy regulations and addresses the root causes of claim denials, significantly reducing administrative burdens. Healthcare providers will also benefit from complimentary claims analysis, with AIQII directly negotiating with payers to recover identified opportunities. Providers stand to receive 50 per cent of recovered amounts without any additional costs or downtime. With reduced administrative constraints, providers will be able to allocate more resources to patient care, leading to faster treatment delivery and improved patient outcomes With the growing demand for technology-driven solutions in healthcare, how do you view DHCC's role in positioning itself as a leader in adopting AI and other transformative technologies? Allae Almanini : We are driving the adoption of AI and emerging technologies, reinforcing our position as a leading hub for healthcare innovation. By integrating AI-driven solutions, we are enhancing patient care, optimising medical processes and advancing value-based healthcare. Initiatives such as the AI Healthcare Innovation Lab by Acorn Research and AI-driven medical claims analysis solutions by AI & Quantum Intelligence Institute (AIQII) are improving patient outcomes and shaping the future of healthcare. With a strong focus on innovation, DHCC is cultivating an ecosystem that attracts specialised IT experts and advanced digital services. Our commitment to AI and digital transformation fosters continuous advancements in patient-centred healthcare solutions. As a premier healthcare destination, we provide state-of-the-art infrastructure, a strategic location, and seamless business setup support, empowering healthcare providers to embrace digital transformation and thrive. DHCC is attracting leading companies like AirMed International to set up regional offices within the free zone. How do these partnerships contribute to DHCC's overall growth and Dubai's vision of becoming a global healthcare hub and a top destination for medical tourism? Jaffar Bin Jaffar : AirMed International establishing its regional office in Dubai Healthcare City (DHCC) is a significant milestone in enhancing patient-centred healthcare services in Dubai and the Middle East. As a global leader in air medical transportation and patient care services and with over two decades of operational excellence in the UAE, the presence of AirMed International strengthens Dubai's standing as a trusted healthcare destination, particularly for medical tourists. This agreement aligns with our strategic vision of fostering an ecosystem that prioritises patient care and medical excellence. Through strategic partnerships, modern technological advancements, developed medical infrastructure and a regulatory government body that supports international brands and companies, we attract world-class healthcare providers, supporting Dubai's goal of becoming a global hub for advanced treatments and medical tourism. As a free zone focused on healthcare, what are some of the key challenges DHCC faces in maintaining its competitive edge, and how do you plan to address them in the coming years? Allae Almanini : The healthcare sector is evolving rapidly, with advancements in medical technology, shifting patient expectations and changing regulatory and licensing requirements. Ensuring seamless compliance while fostering innovation remains a key challenge. We are well-prepared to navigate these challenges in collaboration with all relevant authorities, through initiatives that support healthcare providers. Programmes such as C37, the UAE's first private medical workspace for UAE-based or visiting doctors seeking an independent part-time practice solution; Masaar, our 360-degree customer service platform offering services including licensing and visa support; and DHCX, which provides local and global companies access to an established healthcare network, all contribute to maintaining our competitive edge. What other initiatives and innovations can we expect from DHCC to continue driving its position as a global leader in healthcare, wellness, and medical research? Allae Almanini: We are committed to enhancing healthcare delivery to meet the growing demands of the health sector, aligning with the UAE's national agenda on advanced health sciences and healthcare excellence. With the ongoing Phase 2 developments focusing on expanding healthcare and residential facilities, we aim to cater to the growing and evolving healthcare needs and enable companies to contribute towards enhancing the wellness of the community. This aligns with the Dubai 2040 Urban Master Plan objective of developing vibrant, healthy and inclusive communities to provide a healthy environment to residents and visitors. We are also determined to promote medical education and establish specialised medical research centres, further enriching our ecosystem which is currently home to several medical education and medical research centres. This provides a robust platform for professional development, innovation and knowledge exchange. As Dubai's healthcare investment hub, we will continue fostering an ecosystem where healthcare, wellness and community thrive together, supporting the emirate's long-term vision for a world-class healthcare sector. Read:
