Perennial Holdings inks agreement to open two hospitals in Guangzhou
Currently, the group has 5 healthcare-centric TODs which are connected to HSR stops, situated in Tianjin, Chengdu, Kunming, Xi’an and Chongqing. Perennial Holdings owns, regulates and operates over 25,000 beds in clinical and eldercare facilities, consisting of 16,000 operational beds and 9,000 beds in the pipeline, across China and Singapore.
Pua Seck Guan, head chairman and chief executive officer of Perennial Holdings, claims: “The RMB1 billion investment lines up with our critical focus on healthcare-centric HSR transit-oriented developments (TODs), that serve as enablers of our healthcare company, and notes our primary medical care business foray right into the Guangdong-Hong Kong-Macau Greater Bay Location.”
The model, that was piloted at Perennial Holdings’ general hospital in Tianjin that commenced uses earlier on this year, delivers comfort and cost efficiency to doctors and medical groups, the firm includes.
Both medical facilities in Guangzhou are expected to be finished in July 2026, forming the very first phase of the Perennial Baiyun International Healthcare City. Under the partnership arrangement in between Perennial Holdings and the Guangzhou Baiyun District Government, the healthcare city is set to span over 1.18 sq kilometres at an approximated complete investment cost of RM5 billion. The Perennial Baiyun International Healthcare City is envisioned to be a clinical and wellness precinct combining clinical, wellness, research, training, business and residential elements, says the group.
Found in the Southeast Tower of Yuesheng Plaza, this will be the first fully foreign-owned tertiary general hospital and specialist hospital in Guangzhou and Southern China. The two medical centers will have a complete arranged capability of over 600 beds.
The medical facilities are expected to develop Guangzhou as a “leading health tourist location”, attracting high-net-worth buyers from the Asia Pacific area, assumes Pua.
According to Perennial Holdings, the two medical centers will offer a shared medical centers and services approach that will enable physicians and clinical groups to operate on an asset-light basis, without needing to invest in clinical centers and services. As an alternative, they will use facilities offered and managed by Perennial Holdings.
Meanwhile, Perennial Holdings is also readied to develop an integrated eldercare venture in Guangzhou’s Huangpu District, that will include a rehab hospital, taking care of home and an eldercare home.
Perennial Holdings has actually executed a deal with Guangzhou Metro Group to rent around 105,000 sq ft of space and spend around RMB1 billion ($ 178.9 million) to launch 2 medical facilities in Guangzhou.
