A new multi-million dollar hospital by MAG Group will boost medical tourism to Dubai.
A major realtor has announced plans to develop a new healthcare complex, catering for growing demand for private healthcare in Dubai which is driven by local demand and medical tourism.
Dubai-based MAG Group has signed a joint venture agreement with Dubai Healthcare City (DHC) to develop mixed-use project in Dubai Healthcare City at an estimated cost of around AED800 million (US$217m).
The development is still at the concept design stage and scheduled for completion at the end of 2016. Once finished, the complex will include two hospitals, a clinic, a residential complex, a hotel, retail space, a mosque, and an automated car park.
Addressing officials from DHCC, Moafaq Al Gaddah, Chairman of MAG Group said; “The healthcare sector in Dubai is on the cusp of a sustained period of growth and will need to build medical facilities for the future.
According to Mr. Al Gaddah, this growth is being fuelled by natural growth in the local population and in the number of expatriate arrivals as the economy expands. He also cited the growth of private health insurance due to changes in government employment policy, and Dubai’s growing status as a medical tourism hub for the Middle East.
As a marker of growth, data from the Dubai Health Authority shows that total inpatient visits to healthcare centres grew by a CAGR of 9%, between 2006 and 2011 totalling 183,000 visits in 2011. By that time almost 57% of all inpatient facilities were in private hands, as inpatient visits to private healthcare centres grew by a CAGR of 18% over the same period, a clear sign of changing preferences in Dubai.
It is a similar picture for outpatient care. Outpatient visits to private healthcare centres grew by a CAGR of 8% between 2006 and 2011. The private sector now dominates outpatient care, with 73% of all outpatient visits in 2011.
source: http://www.traveldailymedia.com / Travel Daily ME / Home> News> Hotel & Spa> Tourism / February 02nd, 2014
