Property News · May 29, 2016

Region's first high-rise medical mall coming up in Abu Dhabi


The Abu Dhabi-based Al Falah Holding has started work on a Dh500 million medical mall in Khalifa City A.The company, with interests in construction, transport, health care, education and property, said that the nine-storey building is the first vertical medical mall project to be built in the region and includes space for a hospital, health clinics, dental practices, health insurance firms, sports and wellness stores, medical laboratories and a gym. The building is expected to complete by the middle of 2017, with tenants moving in throughout the third quarter. Al Hilal Bank has provided funding for its construction.”We are very proud to announce the development of the Medical Mall project as new concept in the health care industry,” said Zayed Falah, the chairman of Al Falah Holding, said. “This project will attract local and overseas potential partners in the health care industry and our objective is to upgrade the wellness standards in the country. The know-how of reputable health care organisations, along with our long established network in the region, will lead to the successful establishment of our new medical mall.”According to Meed, there are currently US$72 billion worth of health care projects in the pipeline across GCC states, and $8.5bn has been spent on health care projects across the UAE over the past decade.Just last week, Thumbay Group announced that it is to build Dh600m worth of health care projects in Ajman. The company said that it would build a 300-bed hospital, a 60-space dental hospital and a rehabilitation centre — all of which will be housed at the Gulf Medical University campus in Ajman. The company said the hospital would be the biggest private academic hospital to be built in the Middle East.”With these projects, Thumbay Group will cement its position as the largest private academic health care provider in the region,” said founder and president Thumbay Moibeen.The company is also building a hotel and staff accommodation at the site, an office tower and a 25,000 square feet hospitality project containing a restaurant, health club, and coffee shop. In Dubai, meanwhile, it is building a new headquarters and extending the outpatients’ department at an existing hospital. These projects will take 18 months to complete.mfahy@thenational.ae

Source : thenational.ae
Read more…Region’s first high-rise medical mall coming up in Abu Dhabi

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