Dubai Healthcare City Reveals Strong Growth within Dubai’s Healthcare Sector with New Report at Arab Health 2024
- DHCC boasts 16% CAGR increase in turnover from 2020 to 2024
- DHCC Phase 2 has attracted AED 1.03 billion investment from 2019 to date
Dubai, 29 January 2024 – Dubai Healthcare City Authority (DHCA), the governing body of Dubai Healthcare City (DHCC) free zone, today unveiled a report titled “Dubai’s Healthcare Ecosystem Highlights” at Arab Health 2024, which provides key insights and strong growth indicators in the emirate’s healthcare sector. The new report sheds light on Dubai Healthcare City’s (DHCC) commitment to advancing the healthcare ecosystem, and its approach to seamlessly integrating core healthcare services and collaborating with global organisations.
Key findings from the report highlight the key role DHCC plays as the emirate’s healthcare investment hub, with the free zone’s turnover between 2020 and 2024 expected to increase significantly at an estimated 16% Compound Annual Growth Rate (CAGR). The figure underscores the free zone’s unwavering commitment to its ecosystem’s efficiency and sustainability, and confidence from major regional and international healthcare investors in DHCC’s capability to enable growth opportunities in Dubai’s dynamic healthcare landscape.
Other key findings reaffirm the robust growth of Dubai’s healthcare industry, showing strong increases in both public and private sector UAE healthcare expenditure. Public sector spending is set to reach AED 104 billion by 2027, with the private sector forecast to AED 22 billion (private) by the same period, at a CAGR of 7.5% and 8.8% respectively.
The study also highlights DHCC’s ongoing expansion of Phase 2, which is designed to complement the healthcare ecosystem with preventive care, wellness and urban lifestyle. Encompassing approximately 22 million square feet, Phase 2 has attracted strategic investment of AED 1.03 billion from 2019 to date. The allocation includes 57.65% for mixed use commercial and residential, 18.88% for hospitality and residential, 10.73% for healthcare, 10.11% for commercial and hospitality and 2.63% for residential. The development of Phase 2 aligns with DHCC’s commitment to attract more investors, expanding healthcare and residential facilities to address the evolving needs of Dubai’s growing population.
Aligning with the emirate’s vision for a dynamic healthcare industry to serve a projected population of 5.8 million by 2040 and the Dubai 2040 Urban Master Plan, which has a goal to increase the land area for education and health facilities by 25%, DHCC plays a key role in attracting investment to contribute to these ambitious goals, fostering a vibrant, healthy and inclusive community for residents and visitors.
Allae Almanini, Chief Financial Officer, Dubai Healthcare City Authority, said: “We are constantly striving to ensure collaborations to extend healthcare services and attract investments that directly contribute to achieving the goals of the Dubai 2040 Urban Master Plan. Our commitment extends to developing strategic partnerships, establishing community health clinics and pioneering innovative co-living concepts. As the healthcare landscape continues to evolve, we remain at the forefront, exemplifying unparalleled growth and dedication to creating a holistic healthcare and wellness ecosystem.”
Underlining DHCC’s prominent position in enhancing healthcare delivery to meet the growing demands, the study shows the workforce operating within DHCC went from 10,000 in 2021 to 11,500 in 2024.
As of today, DHCC’s ecosystem offers a wide range of medical services with 481 registered facilities, including advanced diagnostic procedures, specialised treatments, surgical procedures and the first Russian clinic in Dubai – Kandinsky. With 195 clinical facilities and 130 regional headquarters of global companies, DHCC continues to lead the transformation of Dubai’s healthcare landscape, providing direct access to an unrivalled network of partners.
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About Dubai Healthcare City:
Established in 2002 by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, the Dubai Healthcare City (DHCC) has become the emirate’s specialized freezone in health and wellness services, and a leading destination for healthcare investments. The freezone is governed by Dubai Healthcare City Authority (DHCA). DHCC offers a comprehensive range of business solutions covering start-ups to mega healthcare projects, as well as independent and visiting physicians. DHCC, a preferred destination for medical, wellness, academic, and research institutions, complements its offering with a selection of modern lifestyle options, providing its visitors with a wide range of hospitality, shopping, and entertainment features.