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BRIDGING THE GAP THE DEMAND FOR SOCIAL INFRASTRUCTURE

The overall picture
GDP in the MENA region is planned to grow at an annual average rate of 4 per cent (World Bank) / 4.2 per cent (IMF) in 2010 with some countries experiencing double-digit growth projections. The region comprises an unusually large proportion of indigenous young people, representing up to 50 per cent of the population in some countries. Add in long-term growth projections, and it is clear that sustainable development of the region will be affected by substantial pressure on social infrastructure both historic and new. Take the Middle East healthcare market. This is expected to be worth some US$60 billion by 2025 as the need for investment in services and facilities increases. It is the only region in the world that faces such a rapid increase in demand and this growth is creating new opportunities for construction and consulting companies, financial, banking and private equity sectors, as well as medical equipment suppliers and the pharmaceutical sector in particular. Large tenders continue to come from the main regional healthcare market, Saudi Arabia, which is now joined by newcomers such as Libya, which is attempting to catch up. The focus is concentrated on cardio-vascular, diabetes, accident and emergency, long-term care and other priority areas where investors and joint venture partners can find untapped potential. Heart disease, diabetes and cancer are the main forms of chronic disease in the MENA region. In the UAE one in five adults has diabetes and treatment of that illness alone absorbs approximately 40 per cent of the nations overall healthcare expenditure (Gulf News, 11 November 2007). The wellness tourism markets are flourishing, particularly in the UAE, Lebanon, Jordan and Egypt. Substantial resources and expertise are directed towards state-of-the-art facilities. Lebanon, one of the smaller markets, is planning three new hospitals, and upgrading services within the private sector that accounts for 90 per cent of hospital expenditure. As part of Saudi Arabias 2010 budget, US$36.7 billion is being ploughed into education, including the construction of 1,200 new schools, with more than 3,000 new school
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