Growing demand for healthcare property in the Middle East
Property consultancy Knight Frank is witnessing an increase in enquiries for real estate to accommodate incoming providers in the healthcare sector and a rise in medical tourism to the region.
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 percent of a hospital’s balance sheet — the third largest expense on the income statement and all too often, healthcare real estate is an untapped asset.’’
It is not just large scale projects and global brands looking at entering the Middle Eastern markets, but from smaller clinics, dentists to physiotherapists and specialist diagnostic centres.
Arab Health Week which is being hosted in DIFC, Dubai this week will see exhibitors from 4,000 companies from over 100 countries, highlighting interest from the industry in the region.