Supported by an aging population and riding high on 38 Billion USD investments, healthcare real estate provides a huge opportunity for the private sector which has a dominant 63% share in health realty.
According to a recent report by Knight Frank & Berkadia, India is currently facing a deficit of 2 billion sq ft of healthcare space. to meet the needs of its population. There is an estimated need for 2.4 billion additional beds to reach the recommended ratio of 3 beds per 1000 people. This provides a big opportunity for public and private players to expand their footprint in the healthcare industry, offering 582 investment opportunities worth USD 32 billion in medical infrastructure. The hospital industry accounts for 80% of the healthcare market in India. Currently, India has an estimated 70000 hospitals of which the private sector has 63% share.
India’s healthcare market was estimated at USD 372 billion in 2022 and growing at an average rate of 18%. Healthcare real estate has attracted USD 38 billion of global investments, accounting for 4.3% of total global real estate investments. India has emerged as a popular destination for healthcare tourism with a 10th global ranking.
According to Shishir Baijal, Chairman & MD Knight Frank India, about one-fourth of UHNIs, looking for long income generating assets, have shown interest in investing in healthcare real estate. Julian Evans, Head of Healthcare at Knight Frank adds that there is growing interest from REITs and institutional investors, aiding ESG investing strategies.
YEIDA to Develop a New Mega City in Agra
The Yamuna Expressway Industrial Development Authority (YEIDA) has chalked out an ambitious plan to develop a large city along Yamuna Expressway that connects Greater Noida with Agra.
The new city will come up over 10500 hectares in Agra region. Apart from having residential centres, the upcoming city will promote industrial real estate by developing manufacturing hubs.
According to Arun Vir Singh, Chief Executive Officer, YEIDA, the board is set to give a nod to this proposed city. After this, the masterplan for the new city will be prepared, followed by land acquisition for this prestigious project. Besides promoting tourism, the new city will help create immense business opportunities.
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