UAE Equity Research - Amanat Holdings 2Q25 - First Look Note
Total beneficiaries and student base increased 17% YoY to approximately 23.9k in 1H25, driven by strong growth in international students and the expansion of HDC. After refurbishment, Jeddah bed capacity expanded to 170; post 2Q25 added 30 in Jeddah and 10 beds in Dharan, with 30 beds additional under licensing at Khobar.