Aldar and Mubadala in talks over healthcare

Ronald Barrott, the chief executive of Aldar said: “The concept is in line with our commitment to provide modern, efficient and sustainable communities for Abu Dhabi and its residents by responding directly to their needs. Excellent local healthcare provision is clearly integral to this."

ABU DHABI // Abu Dhabi property developer Aldar and Mubadala Healthcare will explore working together to open healthcare facilities in Aldar’s UAE developments.

The two companies have signed a memorandum of understanding (MoU) for one year, during which time they will explore setting up a joint venture.

According to the MoU, Aldar would design and develop the facilities, and then hand them over to Mubadala Healthcare, which will then assume operational control of the medical centres.

Ronald Barrott, the chief executive of Aldar said: “The concept is in line with our commitment to provide modern, efficient and sustainable communities for Abu Dhabi and its residents by responding directly to their needs. Excellent local healthcare provision is clearly integral to this.”

Other major property developers have also moved to integrate healthcare provision into their projects recently. The healthcare wing of Emaar last week signed an agreement with Methodist International, from Texas, to open a hotel and several clinics in their developments, both in the UAE and elsewhere in the region.

Mubadala Development, the parent of Mubadala Healthcare, is the largest shareholder in Aldar, with a stake of just more than 14 per cent.