A consultancy predicts Abu Dhabi will reduce the shortfall of beds for women’s and child care as more public and private hospitals open in the emirate.
The current shortfall of beds for both normal deliveries and C-sections, is 600 in Abu Dhabi, and 1,400 in Dubai, said Jad Bitar, a partner with Booz and Company and a leader in the firm’s healthcare practice based in Beirut.
“Overall the capacity gap has been closing in Abu Dhabi for the last few years,” said Mr Bitar.
“Still, given the current projects we expect to have a gap of around 200 beds in Abu Dhabi in women’s health by 2017.”
Abu Dhabi-based United Eastern Medical Services will open Danat Al Emarat with 140 beds in the first phase that will be followed by a 90-bed hospital in the second phase.
When it opens in April, the hospital will focus on gynaecology, obstetrics and neonatal care. It is targeting the premium segment in women and child care. All the rooms will be single occupancy with butler and concierge services besides VIP and royal suites.
Apart from Danat Al Emarat, 100-bed BrightPoint Maternity Hospital from NMC Healthcare is expected to open in the first half of next year. And the old Corniche Hospital will be replaced by a women’s health hospital in Sheikh Khalifa Medical City.
South Africa’s Mediclinic, which acquired Welcare Hospital in Dubai, will open its first clinic in Abu Dhabi – Mediclinic Corniche – in February, it said in a filing.
Currently, around a quarter of the deliveries in town are handled by Corniche Hospital.
“We looked at the demographics and saw that we have a single player, Corniche Hospital, which is open to all demographics,” said Mohammed Ali Al Shorafa Al Hammadi, the managing director and chief executive of United Eastern Medical Services. “And we looked at how we can cater to the high-end, premium level because in the long term it brings the costs down.”
Quality services are important to attract and retain patients. Prices of procedures will rise naturally in parallel with improved quality as more nurses are needed per bed, for instance, said Mr Bitar.
On average, the price of a medical procedure in Abu Dhabi is 30 to 100 per cent higher than other parts of the Gulf, he said.
The average cost of a normal delivery in Abu Dhabi is Dh22,635 and Dh33,500 for a Caesarean.
“While prices fluctuate between hospitals [it] can go up to three times for the same procedure,” Mr Bitar said.
Singapore’s ParkwayHealth will manage and operate the Danat Al Emarat Hospital located near Officer’s City in Abu Dhabi – its first outside South East Asia. ParkwayHealth is part of the Parkway Group, and runs hospitals in Malaysia, India and Brunei. Its Mount Elizabeth Hospital is popular with Emiratis seeking health treatment in Singapore.
“They know how to retain patients and produce economically viable projects,” Mr Al Hammadi said, referring to ParkwayHealth.
Danat Al Emarat is spending Dh700 million on phase one and will have taken three years to complete. The overall project cost stands at Dh1.2 billion.
The hospital expects to stem the flow of patients to Dubai and expats moving to their home countries for deliveries.
It also expects to reduce the number of medical tourists going abroad for breast cancer treatment and neonatology, a subspeciality of paediatrics that consists of medical care of newborn infants.
United Eastern Medical Services, which started four years ago, runs five outpatient clinics and two pharmacies under the Health Plus brand name.
It has also tied up with the UK’s Moorfields Eye Hospital and is looking for a location to open a Dh25m eye hospital in the capital. Three more clinics are in the pipeline.
ssahoo@thanational.ae
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
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How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Planes grounded by coronavirus
British Airways: Cancels all direct flights to and from mainland China
Hong Kong-based Cathay Pacific: Cutting capacity to/from mainland China by 50 per cent from Jan. 30
Chicago-based United Airlines: Reducing flights to Beijing, Shanghai, and Hong Kong
Ai Seoul: Suspended all flights to China
Finnair: Suspending flights to Nanjing and Beijing Daxing until the end of March
Indonesia's Lion Air: Suspending all flights to China from February
South Korea's Asiana Airlines, Jeju Air and Jin Air: Suspend all flights
What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
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Pakistan v New Zealand Test series
Pakistan: Sarfraz (c), Hafeez, Imam, Azhar, Sohail, Shafiq, Azam, Saad, Yasir, Asif, Abbas, Hassan, Afridi, Ashraf, Hamza
New Zealand: Williamson (c), Blundell, Boult, De Grandhomme, Henry, Latham, Nicholls, Ajaz, Raval, Sodhi, Somerville, Southee, Taylor, Wagner
Umpires: Bruce Oxerford (AUS) and Ian Gould (ENG); TV umpire: Paul Reiffel (AUS); Match referee: David Boon (AUS)
Tickets and schedule: Entry is free for all spectators. Gates open at 9am. Play commences at 10am
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VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
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Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
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