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$65bn healthcare projects under way in GCC

 

More than 700 healthcare construction projects, with a combined estimated value of $65 billion, are currently being developed in the GCC region, said a report.

Of these, 133 projects are worth more than $100 million each, stated the latest BNC Report on the GCC Healthcare commissioned by The Big 5 Kuwait 2016, the largest building and construction event in the country, to be held from September 25 to 27 at the Kuwait International Fair.

According to the report, the healthcare economy in the GCC is expected to register a strong growth in the coming years.

Medical treatment, hospital activities and allied human health activities in the Gulf are likely to reach $71 billion by 2020, a 76 per cent increase from $40.3 billion in 2015.

A growing population, aging demographics, medical tourism and government led initiatives to provide quality healthcare services are considered key drivers of this growth, it added.

Event organisers dmg said Kuwait makes up around 11 per cent of the value of all healthcare projects in the GCC.

Dr Mussaad M. Al Razouki, the chief business development officer of Kuwait Life Sciences Company (KLSC) and speaker at The Big 5 Kuwait 2016, said: “The coming years will witness a rapid growth in the healthcare sector, reflecting heavy investments in the country’s healthcare infrastructure.”

“This will create a lot of opportunities for both local and international organisations operating in the construction of healthcare facilities,” he noted.

“The private healthcare market is estimated to grow by 15 to 20 per cent in the coming years as several new private hospitals will open in Kuwait, adding 1,800 hospital beds,” he stated.

Also, over 20 large-scale mega healthcare projects are currently in the pipeline. Worth KD3.5 billion($12 billion), these will add approximately 11,200 hospital beds to those already available in Kuwait, he added.

Dr Al Razouki will give a presentation on “Trends, Challenges and Opportunities in the Kuwait Healthcare Sector” at the upcoming event with focus on sustainable construction.

“All structures, especially socially minded ones such as hospitals and clinics, must be designed and developed to have a positive environmental impact over their entire lifetime, while providing a high level of comfort, durability and functionality for both the clinicians and the patients. Needless to mention, sustainable structures minimize the use of water, raw materials, energy and land,” he added.

The theme of healthcare construction will be further developed at the event by Dr Angela Burke, the associate director (Healthcare) at SSH.

On the opening day, Dr Burke will navigate the audience through the unique complexities of designing healthcare facilities, offering an overview of standards and regulations governing the design of these structures around the region.

The Big 5 Kuwait is expected to welcome 6,000 participants, hosting over 150 local and international exhibitors across 3,500 sqm of space.-TradeArabia News Service

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