Perennial Holdings inks agreement to open two hospitals in Guangzhou
According to Perennial Holdings, the two hospitals will include a common medical facilities and services concept that will permit physicians and medical groups to operate an asset-light basis, without requiring to invest in medical centers and services. As an alternative, they will use centers provided and managed by Perennial Holdings.
Both medical facilities in Guangzhou are anticipated to be finished in July 2026, forming the very first phase of the Perennial Baiyun International Healthcare City. Under the collaboration agreement between Perennial Holdings and the Guangzhou Baiyun District Government, the healthcare city is set to connect 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 clinical and wellness precinct combining medical, wellness, research, training, business and residential components, states the group.
Situated in the Southeast Tower of Yuesheng Plaza, this will be the first completely foreign-owned tertiary overall hospital and specialist hospital in Guangzhou and Southern China. Both medical facilities will have a total intended capacity of over 600 beds.
Perennial Holdings has executed a deal with Guangzhou Metro Group to lease roughly 105,000 sq ft of space and invest around RMB1 billion ($ 178.9 million) to build two healthcare facilities in Guangzhou.
Currently, the group has 5 healthcare-centric TODs that are linked to HSR stops, located in Tianjin, Chengdu, Kunming, Xi’an and Chongqing. Perennial Holdings owns, regulates and runs over 25,000 beds in clinical and eldercare centers, including 16,000 operational beds and 9,000 beds in the pipeline, all over China and Singapore.
The healthcare facilities are expected to establish Guangzhou as a “top medical tourism spot”, bring in high-net-worth clients from the Asia Pacific area, believes Pua.
Pua Seck Guan, director chairman and CEO of Perennial Holdings, states: “The RMB1 billion investment adjusts with our tactical focus on healthcare-centric HSR transit-oriented developments (TODs), that act as enablers of our healthcare organization, and notes our maiden health care business foray into the Guangdong-Hong Kong-Macau Greater Bay Area.”
The model, that was piloted at Perennial Holdings’ general hospital in Tianjin that commenced operations earlier on this year, delivers convenience and cost efficiency to doctors and clinical teams, the company adds.
On The Other Hand, Perennial Holdings is also set to establish an integrated eldercare project in Guangzhou’s Huangpu District, that will certainly feature a recovery hospital, nursing home and an eldercare home.
