Perennial Holdings Inks Agreement Open Two Hospitals Guangzhou
Perennial Holdings has recently entered into an agreement with Guangzhou Metro Group to lease approximately 105,000 sq ft of space and invest around RMB1 billion ($178.9 million) to establish two hospitals in Guangzhou, China. These hospitals, located in the Southeast Tower of Yuesheng Plaza, will be the first wholly foreign-owned tertiary general hospital and specialist hospital in Guangzhou and Southern China. With a total planned capacity of over 600 beds, the two medical facilities are expected to be completed in July 2026.
The shared medical facilities and services concept will be featured in both hospitals, allowing doctors and medical groups to operate on an asset-light basis. They will not need to invest in medical facilities and services, as Perennial Holdings will provide and manage these facilities. This model has already been piloted at Perennial Holdings’ general hospital in Tianjin, which began operations earlier this year, and offers convenience and cost efficiency to doctors and medical groups.
The partnership agreement between Perennial Holdings and the Guangzhou Baiyun District Government outlines the development of the Perennial Baiyun International Healthcare City. Spanning over 1.18 sq km and with an estimated total investment cost of RMB5 billion, this healthcare city will integrate medical, wellness, research, training, commercial, and residential components. The two hospitals in Guangzhou will form the first phase of this project, which is set to establish the city as a top medical tourism destination in the Asia Pacific region.
Pua Seck Guan, executive chairman and CEO of Perennial Holdings, says that the RMB1 billion investment aligns with the company’s strategic focus on healthcare-centric HSR transit-oriented developments (TODs). These developments serve as enablers for their healthcare business and mark their first healthcare foray into the Guangdong-Hong Kong-Macau Greater Bay Area. Pua believes that the hospitals will attract high-net-worth clients from the region, further establishing Guangzhou as a top medical tourism destination.
The EC stands out with its exceptional connectivity, making it a highly desirable development. Located in close proximity to both Sembawang and Canberra MRT stations on the North-South Line, it offers direct train access to key areas in Singapore like Orchard Road, Raffles Place, and Jurong East. For those who prefer to drive, the Sembawang Road EC Canberra has easy access to the Seletar Expressway (SLE) and Bukit Timah Expressway (BKE), facilitating a smooth commute to the Central Business District and other parts of the island. In addition, the upcoming North-South Corridor (NSC) further enhances connectivity with its integration of expressways, dedicated bus lanes, and cycling paths, making it one of the most progressive transport projects in Singapore. To top it off, residents can also look forward to the convenience and ease of access to nearby amenities and facilities. With Sembawang Road EC Canberra, you truly have the best of both worlds.
In addition to the two hospitals, Perennial Holdings is also developing an integrated eldercare project in Guangzhou’s Huangpu District. This project will feature a rehabilitation hospital, nursing home, and eldercare home. Currently, the group owns, manages, and operates over 25,000 beds in medical and eldercare facilities in China and Singapore. This includes 16,000 operational beds and another 9,000 in the pipeline. The group’s five healthcare-centric TODs, connected to HSR stations in Tianjin, Chengdu, Kunming, Xi’an, and Chongqing, contribute to the company’s overall strategic focus on healthcare.