Kuwait's property developer Al Mazaya Holding Co. is studying a number of new real estate projects in the educational and medical sectors locally and abroad. The Holding endeavors to implement its new strategic plan for the next three years, subsequent to obtaining the approval of the Board of Directors. The plan, which was announced earlier this year, includes the need to explore potential investment opportunities in the medical, educational, retail and nutrition sectors, particularly since the company's success in completing, delivering, leasing and managing the greater part of its projects in Kuwait and the Arabian Gulf.
Al Mazaya has recently completed a field study of the market indicating a significant lack in medical care, health and educational services in Kuwait. The study, which showed significant results, has recommended the importance of creating alternatives to traditional real estate investments, and having real estate focused on the health and education sectors.
The study, led by a dedicated team from within Al Mazaya Holding, indicated that the Kuwaiti market in particular and the Gulf market in general suffer shortages in several specialized medical care services, causing GCC nationals and residents to travel abroad to access these services.
One of the key indicators in this regard was underlined by the United Nations with regards to the increase in the GCC's population rate by 2.2% in the period from 2010 to 2015, compared to a 1.1% for the rest of the world. This leads to the need for an increase in the volume of services provided at various levels, especially health care.