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Healthcare To Gobble More Realty Than Retail By 2012


Healthcare To Gobble More Realty Than Retail By 2012

Last updated: June 21 2007
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  • Healthcare To Gobble More Realty Than Retail By 2012

    Suman Layak, Mumbai
    Hindustan Times (Delhi edition)
    The healthcare sector's need for commercial real estate in the next five years is likely to be greater than that of organised retail and business process outsourcing industries, says a study by architect's firm Edifice. Retail and BPO industries are growing at a furious pace, but healthcare is expected to grow even faster.

    The study says that fresh developments in healthcare - the setting up of new hospitals and other health related centres - will require around 250 million square feet, 25 percent more than the 200 million square feet of fresh development expected in organised retail.

    By 2012, the study says the healthcare sector wm grow by 170 percent. Its estimated revenue would be Rs 75,000 crore, 50 percent of which will be from hospitals. Another 1200 new hospitals will be built by the private sector with the demand for new in-patient beds at 7 lakh. The revenues of the private hospitals will also double in the next five years.

    The report says India is in a unique market where multiple industries are contributing to real estate growth. The retail sector is likely to follow healthcare with a demand of 200 million square feet in the next five years, with hospitality following at 150 million square feet.

    Angshuman Magazine, India head of the realty firm CB Richard Ellis said, "In the medium term more money will still continue to flow in organised retail.
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