Contracts for new medical facilities across the GCC are expected to reach $9.53 billion by the end of 2014 – a 25 percent increase on 2013, it was announced on Sunday.
The increase comes as Dubai plans to attract 500,000 patients for treatment by 2020 as part of its drive to become a centre for medical excellence in the region and bring a new stream of visitor revenue.
According to the Dubai Health Authority (DHA), 18 private and four public hospitals will be built over the next few years.
The UAE has doubled its healthcare budget since 2007 and currently ranks among the top 20 destinations for medical tourism.
Visa rules in the UAE were recently changed to help encourage medical tourism, simplifying the process for patients to access the country.
“The UAE spends an estimated $2 billion a year to send patients abroad for treatment,” said Andy White, group event director of The Big 5, the Middle East’s largest building and construction exhibition.
“Gulf countries are spending heavily to ensure they can provide the best treatment inside their country and, in the case of the UAE, encourage medical tourists.”
He added: “Rising populations and changing demographics are creating a need for more specialised facilities, and in turn driving demand for more buildings. This is providing yet another opportunity for the region’s construction sector, and firms are getting the chance to work on some of the most exciting healthcare projects.”
He said Saudi Arabia is among the GCC countries forecasted to triple healthcare expenditure across the region, citing data from Frost & Sullivan. The kingdom is spending more than $23 billion improving its hospitals and medical facilities.
Thousands of construction professionals involved in the development of healthcare facilities will converge in Dubai at The Big 5 building and construction exhibition.
Experts presenting at conferences and workshops will include Reem Murad, cost control manager at Arabtec, whose projects include Al Ain Hospital and Al Ahalia Hospital, and Brett Patrick, technical manager, Ramboll Façades, who has worked on high profile healthcare developments such as Cleveland Clinic Abu Dhabi and King Saud Medical City in Riyadh.
The Big 5 runs from November 17-20 at the Dubai World Trade Centre.
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