Perennial Holdings inks agreement to open two hospitals in Guangzhou
Currently, the group has five healthcare-centric TODs which are connected to HSR terminals, located in Tianjin, Chengdu, Kunming, Xi’an and Chongqing. Perennial Holdings owns, handles and runs over 25,000 beds in medical and eldercare centers, including 16,000 operational beds and 9,000 beds in the pipeline, throughout China and Singapore.
Meanwhile, Perennial Holdings is also readied to create an integrated eldercare project in Guangzhou’s Huangpu District, which will feature a recovery hospital, taking care of home and an eldercare home.
According to Perennial Holdings, the two medical facilities are going to present a common medical centers and services concept that will certainly enable physicians and medical groups to operate an asset-light basis, without needing to invest in medical facilities and services. Rather, they are going to make use of centers provided and regulated by Perennial Holdings.
The medical facilities are expected to develop Guangzhou as a “leading health tourism destination”, bring in high-net-worth buyers from the Asia Pacific area, assumes Pua.
The model, that was piloted at Perennial Holdings’ general hospital in Tianjin that began uses earlier this year, delivers ease and cost efficiency to doctors and clinical teams, the firm adds.
Pua Seck Guan, executive chairman and CEO of Perennial Holdings, claims: “The RMB1 billion investment aligns with our calculated focus on healthcare-centric HSR transit-oriented developments (TODs), which act as enablers of our healthcare company, and notes our primary medical care business foray right into the Guangdong-Hong Kong-Macau Greater Bay Area.”
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Situated in the Southeast Tower of Yuesheng Plaza, this will be the first completely foreign-owned tertiary general hospital and specialist hospital in Guangzhou and Southern China. The two medical centers will have a total arranged capacity of over 600 beds.
Perennial Holdings has authorized a deal with Guangzhou Metro Group to rent approximately 105,000 sq ft of space and invest around RMB1 billion ($ 178.9 million) to launch two hospitals in Guangzhou.
Both medical facilities in Guangzhou are anticipated to be completed in July 2026, forming the initial phase of the Perennial Baiyun International Healthcare City. Under the partnership agreement between Perennial Holdings and the Guangzhou Baiyun District Government, the healthcare city is set to cross over 1.18 sq km at an estimated overall investment cost of RM5 billion. The Perennial Baiyun International Healthcare City is imagined to be a medical and wellness precinct integrating clinical, wellness, research study, training, commercial and residential parts, says the group.
