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Morocco’s largest private healthcare provider Akdital Holding will raise USD 1.6 bn to fund expansion into Saudi Arabia and the UAE, as well as domestic expansion, likely through a mix of debt and equity, Bloomberg quotes CEO Rochdi Talib as saying in an interview. The firm plans to open eight new hospitals in the two countries by 2030, with Dubai and Mecca cited as key locations, after kickstarting its international expansion in July with a contract to lease and manage Al Mishari hospital in Riyadh.
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We knew this was in the works: The company previously said it plans to invest MAD 1 bn (c. USD 104.8 mn) to expand into the two countries, as part of its 2025-2030 roadmap. The plan included opening two hospitals in the UAE — in Dubai and another unspecified emirate — and two in Riyadh and Jeddah, with operations slated to begin in 2027. At the time, the operator was aiming to have the new facilities account for 20% of its revenues by 2030. Talib is now quoted as saying he aims to generate between 40-50% of the firm’s revenues from foreign operations.
The fundraising plan: The firm will use its property unit, Tazak, to raise USD 700 mn of the total and buy property and construct hospitals in the GCC region and in Morocco. Tazak will look to family offices in the UAE, Saudi Arabia, Morocco, and other Arab countries for funds for the rest of the targeted amount, and plans to raise MAD 800 mn (USD 86 mn) from a domestic bond sale next year, and may seek further financing from private equity investors.
What’s next? Akdital plans to convert Tazak into a real estate investment trust, which will be publicly listed on the Moroccan bourse by 2027, Talib said. It also aims to use about USD 200 mn of the funding to establish Gulf diagnosis centers. “By 2030, we will generate between 40% and 50% of our revenues from foreign operations,” he added.
About Akdital: Founded in 2011, Aktidal is listed on the Casablanca Stock Exchange and has a market capitalization of MAD 18.1 bn (c. USD 1.9 bn), according to the stock exchange’s website. The firm secured MAD 1.2 bn (c. USD 130 mn) from a domestic bond issuance in 2025, and previously raised USD 112 mn in a local IPO in 2022. It currently has a portfolio of 40+ hospitals covering over half of Morocco’s provinces.
