Perennial Holdings inks agreement to open two hospitals in Guangzhou
Found 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 an overall planned capability of over 600 beds.
Both hospitals in Guangzhou are anticipated to be carried out in July 2026, forming the 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 connect over 1.18 sq km at an estimated overall investment cost of RM5 billion. The Perennial Baiyun International Healthcare City is envisioned to be a medical and wellness precinct combining medical, wellness, study, training, business and residential elements, states the group.
Currently, the group has 5 healthcare-centric TODs which are linked to HSR stops, situated in Tianjin, Chengdu, Kunming, Xi’an and Chongqing. Perennial Holdings owns, regulates and runs over 25,000 beds in clinical and eldercare facilities, including 16,000 operational beds and 9,000 beds in the pipeline, across China and Singapore.
The hospitals are anticipated to establish Guangzhou as a “top medical tourism destination”, attracting high-net-worth clients from the Asia Pacific region, believes Pua.
Pua Seck Guan, executive chairman and chief executive officer of Perennial Holdings, says: “The RMB1 billion investment aligns with our critical focus on healthcare-centric HSR transit-oriented developments (TODs), which work as enablers of our healthcare company, and marks our primary medical 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 functions earlier this year, gives ease and cost competency to doctors and medical teams, the business includes.
According to Perennial Holdings, both medical centers will feature a common medical facilities and services concept that will enable physicians and medical groups to operate on an asset-light basis, without requiring to purchase clinical centers and services. As an alternative, they will utilize centers offered and supervised by Perennial Holdings.
Perennial Holdings has signed a contract with Guangzhou Metro Group to lease roughly 105,000 sq ft of space and invest around RMB1 billion ($ 178.9 million) to start two hospitals in Guangzhou.
On The Other Hand, Perennial Holdings is also readied to create an integrated eldercare project in Guangzhou’s Huangpu District, which will certainly feature a rehabilitation hospital, taking care of home and an eldercare home.
