Labtec wins Dh18m contract to fit out Petroleum Institute

A laboratory furniture company owned by Dubai Investments is targeting annual growth of more than 10 per cent over the next three years after winning a Dh18 million contract from the Petroleum Institute in Abu Dhabi.

Labtec, which designs, builds and installs lab furniture, said the contract involves the supply of modular furniture that has been specially designed to incorporate gas, water, data and electrical services equipment. It is due to be delivered by September.

The company, which last year registered sales of Dh19m, operates from an 8,000 square metre facility in Sharjah and said it expected to benefit from the GCC’s buoyant healthcare market, which is expected to grow by 11 per cent a year.

“The current spate of new healthcare projects in the GCC states is leading to exponential demand for high-quality laboratory furniture, and Labtec sees this as a great opportunity to further build on its market leadership,” said Muhammad Tariq, the general manager.

“The company’s expertise in both the healthcare and educational spheres augurs well for its growth.”

Over the past three years, investment in the UAE’s healthcare sector has grown to an anticipated US$11.9 billion this year from $3.2bn in 2012.

Several new hospitals have already opened or are due to open this year, including the $1.6bn Cleveland Clinic Abu Dhabi on Al Maryah Island, the Danat El Emarat women’s and children’s hospital managed by Parkway Health near Mussafah Bridge in Abu Dhabi and the 150-bed Thumbay Hospital in Al Qusais, Dubai.

NMC Healthcare is also set to open a new a specialist hospital at Khalifa City later this year.

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