Singapore-based Perennial Holdings is set to develop a RMB500m (€61m) general hospital in China, following an agreement to form a partnership with a local administrative agency.
Perennial has agreed the partnership with the Lujiazui Administrative Bureau of the China Shanghai Pilot Free Trade Zone and Shanghai Lujiazui. The agreement involves Perennial setting up Perennial General Hospital Shanghai, a foreign medical investment company, to develop the 500-bed hospital in the suburb of Shanghai.
Pua Seck Guan, executive chairman and CEO of Perennial Holdings, said: “The Perennial General Hospital Shanghai will leverage its strategic location to serve both local residents and expatriates in the city and introduce innovative medical treatments and packages for high-net-worth international clients to support the growth of Shanghai’s medical tourism sector.”
A spokesperson from the Lujiazui Administrative Bureau said: “We warmly welcome Perennial Holdings’s introduction of international medical resources to the Lujiazui District, which will significantly contribute to our vision of building a world-class financial city.
“The Lujiazui District is a hub for nearly 50,000 domestic and international enterprises and 500,000 professionals. It has a distinctly outward-facing economy, with a highly integrated and developed industrial and urban ecosystem, making it an ideal city for living and working,” he added.
A spokesperson from the Lujiazui Group said: “This hospital will be pivotal in advancing Lujiazui District’s infrastructure, fostering integrated innovation across healthcare, finance and technology, while supporting the synergistic growth of Shanghai’s international financial centre and the broader health industry.”
Currently, Perennial owns, manages and operates over 25,000 beds in medical and eldercare facilities across 15 cities in China and Singapore.
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