In the wake of Cityscape 2017, JLL has released a new healthcare report that highlights the opportunity for investors in the MENA real estate market over the next five years.
Demand for hospitals and healthcare facilities is increasing in the region, driven by a combination of an ageing population and the growing popularity of medical tourism.
The number of people aged 65 years is forecast to increase by 4.4% p.a. over the next five years, according to the JLL healthcare report – and as a result, the number of people over 65 will increase from 21 million to 26 million by 2020.
The report also states that the MENA region is currently lagging as compared to developed economies in terms of both per capita spending on healthcare and provision of hospital beds.
The per capita spending on healthcare in the UAE is 17% of what is being spent in Switzerland, and MENA has an average of only 1.9 beds per 1,000 population in comparison to an OECD average of 4.8 beds.
Watch the video wherein JLL experts Craig Plumb, head of research, MENA; Gaurav Shivpuri, head of capital markets, MENA and Chris Francis – head of healthcare and education, MENA amongst others map out the importance to diversify real estate investments.