Perennial Holdings inks agreement to open two hospitals in Guangzhou
Pua Seck Guan, director chairman and CEO of Perennial Holdings, states: “The RMB1 billion investment lines up with our calculated focus on healthcare-centric HSR transit-oriented developments (TODs), which act as enablers of our healthcare business, and marks our maiden healthcare business foray into the Guangdong-Hong Kong-Macau Greater Bay Area.”
Currently, the group has five healthcare-centric TODs that are linked to HSR terminals, situated in Tianjin, Chengdu, Kunming, Xi’an and Chongqing. Perennial Holdings owns, manages and runs over 25,000 beds in clinical and eldercare facilities, including 16,000 operational beds and 9,000 beds in the pipeline, all around China and Singapore.
The medical facilities are expected to develop Guangzhou as a “top health tourist spot”, bring in high-net-worth buyers from the Asia Pacific region, thinks Pua.
According to Perennial Holdings, both healthcare facilities will present a shared medical facilities and services approach that will certainly enable medical professionals and clinical groups to operate an asset-light basis, without requiring to purchase medical centers and services. Rather, they will use centers provided and regulated by Perennial Holdings.
Located in the Southeast Tower of Yuesheng Plaza, this will be the first fully foreign-owned tertiary overall hospital and specialist hospital in Guangzhou and Southern China. Both medical centers will have a total arranged capacity of over 600 beds.
Both healthcare facilities in Guangzhou are expected to be completed in July 2026, forming the very first 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 kilometres at an approximated overall investment cost of RM5 billion. The Perennial Baiyun International Healthcare City is pictured to be a clinical and wellness precinct combining medical, wellness, research study, training, business and household parts, says the group.
Perennial Holdings has signed a contract with Guangzhou Metro Group to lease approximately 105,000 sq ft of space and spend around RMB1 billion ($ 178.9 million) to start two hospitals in Guangzhou.
Meanwhile, Perennial Holdings is also readied to create an integrated eldercare project in Guangzhou’s Huangpu District, that will include a recovery hospital, nursing home and an eldercare home.
The model, which was piloted at Perennial Holdings’ general hospital in Tianjin that began functions earlier on this year, gives comfort and cost efficiency to doctors and clinical teams, the business includes.
