Perennial Holdings inks agreement to open two hospitals in Guangzhou
Perennial Holdings has authorized an agreement with Guangzhou Metro Group to rent around 105,000 sq ft of space and spend around RMB1 billion ($ 178.9 million) to establish 2 medical facilities in Guangzhou.
Located in the Southeast Tower of Yuesheng Plaza, this will be the first wholly foreign-owned tertiary overall hospital and specialist hospital in Guangzhou and Southern China. The two medical facilities will have a total planned capacity of over 600 beds.
Pua Seck Guan, executive chairman and chief executive officer of Perennial Holdings, says: “The RMB1 billion investment aligns with our tactical focus on healthcare-centric HSR transit-oriented developments (TODs), that act as enablers of our healthcare business, and notes our maiden medical care business foray right into the Guangdong-Hong Kong-Macau Greater Bay Location.”
According to Perennial Holdings, both hospitals will offer a shared medical facilities and services method that will certainly enable medical professionals and clinical groups to operate on an asset-light basis, without requiring to invest in clinical facilities and services. Instead, they will utilize facilities offered and supervised by Perennial Holdings.
The model, that was piloted at Perennial Holdings’ general hospital in Tianjin that began uses earlier on this year, provides convenience and cost efficiency to doctors and clinical teams, the firm adds.
Both healthcare facilities in Guangzhou are anticipated to be completed in July 2026, forming the initial phase of the Perennial Baiyun International Healthcare City. Under the collaboration arrangement between Perennial Holdings and the Guangzhou Baiyun District Government, the healthcare city is set to cross over 1.18 sq km at an approximated overall investment cost of RM5 billion. The Perennial Baiyun International Healthcare City is envisioned to be a clinical and wellness precinct combining clinical, wellness, research study, training, business and home elements, claims the group.
On The Other Hand, Perennial Holdings is also readied to develop an integrated eldercare project in Guangzhou’s Huangpu District, which will certainly feature a rehabilitation hospital, nursing home and an eldercare home.
The hospitals are anticipated to establish Guangzhou as a “leading health tourism place”, drawing in high-net-worth prospects from the Asia Pacific region, assumes Pua.
Currently, the group has five healthcare-centric TODs which are linked to HSR stops, located in Tianjin, Chengdu, Kunming, Xi’an and Chongqing. Perennial Holdings owns, handles and operates over 25,000 beds in medical and eldercare centers, consisting of 16,000 operational beds and 9,000 beds in the pipeline, throughout China and Singapore.
