SINGAPORE: Perennial Holdings, a leading real estate and healthcare conglomerate, has achieved a significant milestone by becoming the first Singaporean company to fully own a private hospital in China.
The group’s Perennial General Hospital in Tianjin has successfully obtained its medical institution practice license after passing the necessary regulatory reviews.
This makes it the first wholly foreign-owned tertiary general hospital to be approved since China relaxed its medical sector regulations in September this year.
The billion-dollar hospital, which houses 500 beds, is set to commence operations soon.
It is expected to incorporate Singapore’s advanced healthcare cost-sharing model, offering medical practitioners and groups state-of-the-art facilities, such as operating rooms, imaging diagnostic equipment, and clinical laboratories.
This model enables doctors to focus solely on patient care without heavy medical infrastructure investments, ultimately reducing operational costs.
Perennial Holdings Private Limited (“Perennial”), headquartered in Singapore, operates as an integrated real estate and healthcare entity with a strategic focus on large-scale developments.
Its expansive portfolio spans approximately 80 million square feet of gross floor area across China, Singapore, Malaysia, Indonesia, Myanmar, and Sri Lanka.
Within China, Perennial is a prominent healthcare provider, operating through three core business segments: hospitals and medical centres, integrated healthcare hubs, and eldercare services.
The Group currently oversees operations in ten Chinese cities, offering around 10,000 eldercare beds, with plans to add over 5,000 more. Their eldercare facilities provide comprehensive services, including rehabilitation, dementia care, and medical support.
Perennial is also well-established as a commercial developer in China, focusing on large-scale mixed-use developments.
Notably, its projects, such as the Chengdu East High-Speed Railway (HSR) Integrated Development and Xi’an North HSR Integrated Development, are strategically positioned near key HSR stations.
These developments serve as regional hubs, integrating healthcare, eldercare, and commercial facilities.
In Singapore, Perennial’s presence includes iconic assets such as Capitol Singapore, CHIJMES, Chinatown Point, and AXA Tower, with developments spanning major precincts like the Civic District, Orchard Road, and Jurong Lake District.
The group’s latest success in Tianjin points to its growing influence in China’s healthcare sector. By combining its expertise in real estate development with innovative healthcare solutions, Perennial aims to meet the rising demand for high-quality medical services in China.