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MENA healthcare real estate 'an untapped asset'

Healthcare clusters such as Dubai Healthcare City and Dilmunia are gaining prominence as providers pivot to the Middle East amidst increased medical tourism

Medical clusters such as Dubai Healthcare City are gaining popularity in the Middle East.
Medical clusters such as Dubai Healthcare City are gaining popularity in the Middle East.

The demand for healthcare real estate in the Middle East is rising on the back of increased medical tourism into the region, consultancy Knight Frank said. 

Healthcare clusters, such as Dubai Healthcare City in Dubai and Dilmunia in Bahrain are also gaining increased enquiries.

Matthew Dadd, partner at Knight Frank, said: ‘‘Rising life expectancies, rapidly growing populations and per capita incomes, a high incidence of lifestyle-related diseases, and ambitious medical infrastructure projects are driving health care industry growth in the Middle East.

"Real estate typically represents 40% of a hospital’s balance sheet, [and is] the third largest expense on the income statement.

"All too often, healthcare real estate is an untapped asset," Dadd added. 

Multi-specialty locations are also gaining importance as a healthcare real estate trend. 

These tend to offer a combination of medical, commercial, and lifestyle services, Knight Frank stated. 

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Construction Week - Issue 751
Oct 13, 2019