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Contracts for new medical facilities across the GCC are expected to reach $9.53 billion (about Dh35 billion) by the end of the year - a 25 per cent increase on last year.
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). To cater to these patients, the DHA said, 18 private and four public hospitals will be built over the next few years.
Visa rules in the UAE were simplified for patients to encourage medical tourism. Dubai Tourism and Marketing believes this market could be worth as much as $30 million a year.
Saudi Arabia is among the GCC countries forecasted to triple health-care expenditure across the region, according to growth consulting firm Frost & Sullivan. The country is spending more than $23 billion on improving its medical facilities.
In Kuwait, the Ministry of Health has awarded local company Sayed Hamid Behbehani and Sons the construction contract for the Farwaniya Hospital expansion. The $938 million project involves the construction of three buildings making up a new hospital including an ER facility.
Thousands of construction professionals involved in the development of healthcare facilities will converge in Dubai at The Big 5 building and construction exhibition, which runs in November from 17 to 20 at the Dubai World Trade Centre.
Source: Property Weekly