Perennial Holdings inks agreement to open two hospitals in Guangzhou
Currently, the group has five healthcare-centric TODs which are connected to HSR stops, located in Tianjin, Chengdu, Kunming, Xi’an and Chongqing. Perennial Holdings owns, manages and runs over 25,000 beds in medical and eldercare facilities, including 16,000 operational beds and 9,000 beds in the pipeline, all over China and Singapore.
The model, which was piloted at Perennial Holdings’ general hospital in Tianjin that began uses earlier this year, gives convenience and cost efficiency to doctors and clinical groups, the business adds.
Meanwhile, Perennial Holdings is also set to create an integrated eldercare venture in Guangzhou’s Huangpu District, that will certainly feature a rehab hospital, taking care of home and an eldercare home.
Pua Seck Guan, head chairman and CEO of Perennial Holdings, claims: “The RMB1 billion investment lines up with our strategic focus on healthcare-centric HSR transit-oriented developments (TODs), which serve as enablers of our healthcare company, and notes our primary healthcare business foray into the Guangdong-Hong Kong-Macau Greater Bay Location.”
Perennial Holdings has actually executed a contract with Guangzhou Metro Group to rent approximately 105,000 sq ft of space and invest around RMB1 billion ($ 178.9 million) to start 2 hospitals in Guangzhou.
Both medical facilities in Guangzhou are expected to be carried out in July 2026, forming the first phase of the Perennial Baiyun International Healthcare City. Under the partnership 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 approximated overall investment cost of RM5 billion. The Perennial Baiyun International Healthcare City is envisioned to be a clinical and wellness precinct combining medical, wellness, study, training, commercial and residential parts, states the group.
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 centers will have a complete intended capacity of over 600 beds.
The healthcare facilities are expected to develop Guangzhou as a “leading medical tourist destination”, drawing in high-net-worth buyers from the Asia Pacific area, thinks Pua.
According to Perennial Holdings, both medical centers will present a common medical facilities and services concept that will allow medical professionals and clinical groups to operate an asset-light basis, without requiring to invest in clinical centers and services. Rather, they will utilize facilities provided and regulated by Perennial Holdings.
