Prime Highlights:
- Akdital plans to build at least eight hospitals in Saudi Arabia and the UAE by 2030.
- Its property arm, Tazak, will raise $700 million to fund hospital projects and become a publicly listed REIT by 2027.
Key Facts:
- Akdital currently operates 40 hospitals across Morocco.
- By 2030, 40–50% of Akdital’s revenue is expected to come from its Gulf operations.
Background:
Akdital Holding, Morocco’s largest private healthcare provider, plans to expand in the Gulf, including Saudi Arabia and the UAE, with a $1.6 billion investment.
The company intends to construct at least eight hospitals by 2030, focusing on key cities such as Mecca and Dubai, CEO Rochdi Talib told Bloomberg. This expansion builds on Akdital’s recent overseas operations, which began in July with the lease and management of Al Mishari Hospital in Riyadh.
To support its growth, Akdital will raise MD800 million ($86 million) through a domestic bond sale this year. Its property division, Tazak, plans to secure $700 million from investors in Morocco and the Gulf to fund hospital projects.
Tazak holds MD2.5 billion in assets, mostly Akdital-operated hospitals. Family offices from Morocco, Saudi Arabia, the UAE, and other regional investors are expected to contribute funds. Tazak is also set to become a publicly listed real estate investment trust on the Moroccan exchange by 2027.
The company will invest $200 million in diagnostic centres across Gulf countries to expand its healthcare presence in the region.
Currently, Akdital operates 40 hospitals across more than half of Morocco’s provinces. The company raised $112 million through a local IPO in 2022. By 2030, Talib expects 40–50% of Akdital’s revenue to come from the Gulf.
