Arabtec, Emaar, DSI, Deyaar declare non-exposure to NMC Health

Dubai Financial Market-listed Union Properties earlier denied the exposure of its business and subsidiares to NMC Health

NMC Health is an Abu Dhabi-based hospital operator.
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NMC Health is an Abu Dhabi-based hospital operator.

Following the announcement made by Dubai Financial Market-listed (DFM) property developer Union Properties about non-exposure to Abu Dhabi-based NMC Health, other DFM-listed companies have also declared that their businesses have not been exposed to the hospital operator.

Construction heavyweight Arabtec said in a stock market filing that the company has “no investments in NMC or Finablr or any business relationship with or exposure to NMC or Finablr”.

Another contractor that declared non-exposure to and no relations with NMC Health and its sister companies is Drake & Scull (DSI).

Meanwhile, Deyaar Development, which is constructing the 18-storey Bella Rose in Dubai Science Park (DSP) said that the company has no exposure to “NMC Healthcare or any of its subsidiaries”.

Emaar Developments, the development arm of real estate giant Emaar, said that it has “no connection with NMC Healthcare Group or its sister companies, Finablr company, and UAE Exchange Centre company”.

The operator of Dubai Mall, Emaar Malls said that it has no connection with NMC Healthcare Group or Finablr Company. However, the company said that it has a tenancy relationship with UAE Exchange Centre company, where a sum of $381,873.3 (AED1.4m) is due to Emaar Malls.

The company said it the stock market filing said: “Emaar Malls holds post-dated cheques issued by UAE Exchange Centre for $485,446.2 (AED1.8m) according to such tenancy relationship.”

Meanwhile, Emaar Properties said, while it has no connection to NMC Healthcare Group or Finablr, an amount of $45,464.5 (AED167,000) is due from xsUAE Exchange Centre.

The company said: “There are also minor transactions between Emaar Malls and UAE Exchange Center company that were disclosed by Emaar Malls to Dubai Financial Market.”

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