News release

Investor confidence on the surge in GCC’s healthcare market; expenditure is projected to reach USD 124 billion in 2028

Recognising the promising landscape for the healthcare and life sciences sector in the MENA region

May 27, 2024

Medha Sandrasagara

+ 971 4 426 6999

Dubai, UAE; May 27, 2024 – JLL, a leading professional services firm specialised in real estate, investment management, and development consultancy services, has highlighted that as governments in the Middle East push for increased localisation to attain self-sustainability in the healthcare sector, the heightened investor confidence is driving sustained demand across the healthcare value chain in the region.

Recognising the promising landscape for the healthcare and life sciences sector in the MENA region, JLL recently advised a consortium led by UAE-based Fajr Capital to acquire a 65% stake in the ownership of the GCC business of Aster DM Healthcare. Having worked on 100+ healthcare projects in the region, JLL’s healthcare advisory team supported this prestigious transaction and ensured its successful outcome by providing comprehensive technical due diligence services to Fajr Capital.

Fajr Capital leads a consortium of investors whose investments will bolster the expansion plans of Aster DM Healthcare in key GCC markets such as the UAE and Saudi Arabia. The company’s long-term strategy will unlock value within the GCC’s dynamic healthcare landscape and enable greater access to quality services across physical and digital channels.

Sandeep Sinha, Head of Healthcare Consulting – MEA, JLL, said, “The GCC’s healthcare expenditure is projected to reach USD 124 billion in 2028. Under their economic diversification agenda, countries in the GCC are driving the transformation of this critical sector with infrastructure development, clinical capabilities, human capital development, digital transformation, and establishment of healthcare innovation hubs. This has attracted more private equity companies and witnessed an increase in active deal making, further positioning the region as a key healthcare player on the global stage.”

Supported by solid economic fundamentals and in line with national priorities, more regional players across the healthcare landscape in the GCC are acquiring local companies or international brands to build their portfolios and transform their business models. While economic diversification has propelled M&A growth in the region, JLL will continue to lend its expertise in commercial, technical and operational due diligence, business planning, feasibility studies, and market entry strategies, helping streamline transaction processes and boosting the competitiveness of the region’s prominent healthcare brands.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit