Bumrungrad to set up its first hospital in Dubai
Introduction
Leading UAE-based investment house Istithmar has joined hands with Bumrungrad International Limited (BIL) of Thailand, to set up its first hospital in Dubai, at an estimated cost of Dh300 million (US$81.7 million) for the first phase which will have a capacity of 125 beds. Completion of Bumrungrad Hospital, Dubai is scheduled for the end of 2007.
Location
Bumrungrad Hospital will be built on a prime site adjacent to Jumeirah Lake Towers on Sheikh Zayed Road, Dubai.
Features
The hospital will have a capacity for 250 beds, and will cater primarily to the rapidly-growing population of Jumeirah, Jebel Ali and New Dubai districts of the emirate.
The Dubai facility will be fully managed by BIL.
As a long-term strategic partner, Istithmar has made an investment of AED 101 million (US$ 27 million) in the mother company, Bumrungrad Hospital Public Company Ltd and has also entered into a Memorandum of Understanding to make a direct investment in Bumrungrad International Company Limited (“BIL”), the wholly-owned investment vehicle for Bumrungrad’s international investments. BIL invested in Asian Hospital of the Philippines in 2005 in addition to this the fore-mentioned new Hospital in Dubai together with Istithmar. BIL is also said to be exploring other hospital investment opportunities in China, India and other markets in the region.
Specifications Table:
- Name
- Bumrungrad Hospital
- Location
- Dubai
- Construction Type
- New Construction
- Commencement
- 2006
- Completion
- 2007
- Estimated Cost
- US$81.7 million
- Key players
- Istithmar
Bumrungrad International Limited (BIL)
Bumrungrad Hospital Public Company Limited (BHPCL)
