Burjeel meets bankers to gauge debut dollar sukuk demand

Burjeel Holdings reportedly plans a debut dollar sukuk amid rising demand for high-quality healthcare in the region.

The company has met with global and local fixed-income investors for a potential sukuk, Bloomberg reported, quoting unidentified sources.

Sukuk are shariah-compliant bonds.

The roadshow will allow Burjeel, which has a presence in the UAE, Oman and Saudi Arabia, to emphasise that NMC Health’s previous problems were isolated and not sector-wide, the report said.

UAE healthcare provider NMC fell into administration in 2020 after a report by US short-seller Muddy Waters raised concerns about its finances. The company, which is now operational, has predicted greater consolidation in an increasingly competitive healthcare market across the Gulf.

Burjeel reported a 10 percent increase in revenues to AED5.5 billion ($1.5 billion) in 2025, while net profit rose 40 percent to AED503 million.

“Supported by strong market and company fundamentals, disciplined execution and an experienced leadership team, we are well positioned to elevate access to high-quality healthcare across the markets we serve,” chairman and CEO Shamsheer Vayalil said in Burjeel’s preliminary 2025 results.

As of December 31, 2025, Burjeel operated 115 assets, supported by 1,784 beds and 1,776 physicians. Its portfolio of brands includes Burjeel, Medeor, LLH, Lifecare, PhysioTherabia, Alkalma and Tajmeel.

VPS Healthcare Holdings, chaired by Vayalil, owns 70 percent of Burjeel.

International Holding Company, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the Emirati national-security adviser and brother of UAE President Sheikh Mohammed bin Zayed Al Nahyan, holds a 15 percent stake in Burjeel.

The hospital operator’s stock closed 1.5 percent lower at AED1.3 on the Abu Dhabi Securities Exchange on Tuesday, down 2 percent so far this year.

Further reading:

• Morocco’s Akdital seeks funds for Gulf hospitals
• Aster secures $72m for two hospitals in Dubai
• Abu Dhabi pledges millions to Bill Gates polio fund