The Middle East has more than $18 billion in active healthcare construction projects. More than 70% of these new projects are in Saudi Arabia. The UAE is second with 14% of active hospital projects. Of the $18 billion, more than $12 billion is under construction, with the balance, or $6 billion, in the pre-execution phase.
One of the largest healthcare projects currently under construction is the Security Forces Medical Complex in Jeddah. With an estimated cost of $3.4 billion, the construction work should complete in 2024.
IHCC is the most active contractor in the region, with four active large-scale hospital projects valued at more than $1.5 billion. Masah Specialized Construction Company is second, with projects valued at close to $1 billion.
Construction work in the healthcare sector will employ 160,000 personnel when activity peaks in 2026. During 2023, engineering and design firms will earn close to $800 million on healthcare projects in the Middle East.
At ABiQ, we focus on supporting the development of the African and Middle Eastern markets. We identify investment opportunities and help businesses make the right choice when it comes to their role in investment, economic development and socioeconomic improvement. ABiQ provides validated data and trusted business intelligence. Our unique forecasting and project tracking tool provide data and analysis to support your business growth strategy across the Middle East and Africa. Contact us for a free demo.