Perennial Holdings inks agreement to open two hospitals in Guangzhou
The healthcare facilities are anticipated to develop Guangzhou as a “top health tourism spot”, attracting high-net-worth buyers from the Asia Pacific region, thinks Pua.
Pua Seck Guan, head chairman and chief executive officer of Perennial Holdings, claims: “The RMB1 billion investment aligns with our critical focus on healthcare-centric HSR transit-oriented developments (TODs), that act as enablers of our healthcare company, and notes our maiden medical care business foray right into the Guangdong-Hong Kong-Macau Greater Bay Location.”
The model, which was piloted at Perennial Holdings’ general hospital in Tianjin that began functions earlier on this year, gives ease and cost competency to doctors and medical groups, the firm includes.
Both medical facilities in Guangzhou are anticipated to be completed in July 2026, forming the very first phase of the Perennial Baiyun International Healthcare City. Under the collaboration agreement in between Perennial Holdings and the Guangzhou Baiyun District Government, the healthcare city is readied to span over 1.18 sq km at an estimated total investment cost of RM5 billion. The Perennial Baiyun International Healthcare City is envisioned to be a clinical and wellness precinct combining health care, wellness, research, training, business and household elements, states the group.
According to Perennial Holdings, the two medical centers will offer a common medical centers and services approach that will permit doctors and clinical teams to operate an asset-light basis, without requiring to purchase medical centers and services. Instead, they are going to use centers provided and supervised by Perennial Holdings.
Currently, the group has 5 healthcare-centric TODs which are attached to HSR stations, situated in Tianjin, Chengdu, Kunming, Xi’an and Chongqing. Perennial Holdings owns, manages 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.
Perennial Holdings has signed a contract with Guangzhou Metro Group to lease roughly 105,000 sq ft of space and invest around RMB1 billion ($ 178.9 million) to launch 2 healthcare facilities in Guangzhou.
Meanwhile, Perennial Holdings is also set to develop an integrated eldercare project in Guangzhou’s Huangpu District, which will include a recovery hospital, taking care of home and an eldercare home.
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. Both medical centers will have a total intended capacity of over 600 beds.
