Perennial Holdings, Guangzhou Metro ink deal for landmark hospital project

The project involves a $138.8m (RMB1b) investment.

Perennial Holdings Private Limited and Guangzhou Metro Group Co. Ltd have signed an agreement to develop a tertiary general hospital and a specialist hospital in Guangzhou, Southern China.

Perennial Holdings will lease 105,000 square metres of space and invest approximately $138.8m (RMB1b) to establish the facilities at the Southeast Tower of Yuesheng Plaza, adjacent to the Baiyun High-Speed Railway station.

The two medical facilities will have a combined planned capacity of over 600 beds, with works set to begin in July and finish within a year.

The hospitals will adopt Perennial Holdings' Singapore-modelled Shared Medical Platform, enabling doctors and medical groups to operate on an asset-light basis without investing in medical infrastructure.

The general hospital will be the first wholly foreign-owned tertiary general hospital in Guangzhou and Southern China.

RMB1 = $0.14