When looking at the UAE’s growing population and recently rewritten civil laws, it is clear that the nation is throwing open its doors for expat investors. The country’s fascination with all things cutting edge extends to more than just its vibrant lifestyle – it also applies to one of its most important and profitable sectors – the healthcare sector.
The UAE’s burgeoning healthcare sector is ripe for investment, and Covid-19 has had a significant impact that cannot be ignored. Evidenced by the growing number of hospitals and clinics across the country, the sector’s growth was further spurred on as the pandemic invited increased expenditure and demand.
When looking at the UAE’s population more closely, certain patterns emerge. These include a rise in the ageing population, a growing prevalence in chronic diseases, and changes in technology when it comes to delivering care. Driven by these factors (and private health infrastructure) the growing healthcare sector shows some key areas of investment: innovations in primary care models, centres of excellence in certain specialities, home-based care, and rehabilitation services.
But it is not just citizens and residents that are demanding more healthcare; the latest Medical Tourism Index Ranking places Dubai sixth and Abu Dhabi eighth in the rankings of leading global destinations for medical tourism. According to a report by KPMG, inbound medical tourism in the UAE has been growing steadily, with visitors seeking treatment ranging from major surgery to rehabilitation, to cosmetic corrections. Medical tourism is estimated to pull in 700 million USD by 2020.
Here are a few things that the Dubai Healthcare Authority (DHA) investment will be focusing on in the next 2 to 3 years
- Innovations in primary care
- Ambulatory care
- Urgent care clinics
- Mental Health
- Chronic Disease Management
It is clear that Dubai’s government is strongly focused on fortifying its healthcare sector, and it extends that support to investors too. Here are a few examples of the DHA’s support for investors and healthcare providers.
- Provide real time information on demand for services, supply and capacity gaps
- Support and advise on investment mandates, and on green field investments exceeding AED 100 million initial investment
- Facilitate discussions with other DHA stakeholders and Dubai government stakeholders on sizeable investment mandates
- Facilitate priority investments and offer commercial incentives for priority investments through Certificate of Need policies
- Stakeholder workshops on enabling policy change to enable priority investments
- Oversee, develop and manage PPP process for partnerships with DHA for priority services / identified projects
With this upward mobility coupled with strong support from governing authorities, the UAE’s healthcare sector emerges as a strong candidate for foreign investors to put their stake in. If you’re looking to make a smart decision and minimise risks while you set out on an investment venture, get in touch with us to learn more about protecting your assets with our bespoke services.