Retailing, Franchising, and Consumerism Business Intelligence in China

UK Group Inks Chinese Real Estate Deal For Three Hospitals

Chinese real estate group Wanda signed a cooperation agreement with UK's International Hospitals Group Limited in Beijing to build three hospitals in China.

Wanda Group will invest CNY15 billion to build three comprehensive international hospitals in Shanghai, Chengdu, and Qingdao, respectively. Those hospitals will use the IHG brand and be managed by IHG.

IHG is a top international medical group. Founded in 1978, it is headquartered in the UK and is managing over 450 medical projects in more than 50 countries and regions across the world.

The hospital in Shanghai will have CNY8 billion investment and 1,000 beds; the one in Chengdu will have CNY5 billion investment and 500 beds; and the one in Qingdao will have CNY2 billion investment and 200 beds. All three hospitals will be designed and constructed in accordance with top international standards and IHG will make sure that the operation of the three hospitals will pass international medical institution certifications such as JCI.

On the completion of the hospitals, IHG will assign foreign experts as hospital deans. Those hospitals will also have foreign doctors and professional medical teams to reach the level of an international high-end hospital.

According to Wanda, the Qingdao hospital has started construction and is expected to start operation in July 2018; with an area of 500 mu, the Chengdu hospital will start construction in the first quarter of 2016; and the Shanghai hospital will also start construction within 2016.

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