The Baiyun district people's government of Guangzhou and Perennial Group of Singapore entered into a comprehensive cooperation agreement to jointly launch the Baiyun Mega Health City project on Sept 9, with a total investment of 10 billion yuan ($1.4 billion).

The signing marks the largest and most comprehensive project in Perennial Group's China portfolio — a full-lifecycle healthcare ecosystem spanning 1.2 square kilometers in front of the Guangzhou Baiyun Railway Station, with a planned construction area reaching approximately 1 million square meters.

A joint-venture platform company will be established between the district's State-owned enterprises and Perennial Group to manage unified planning, development, investment promotion and operations. Industrial investment funds are expected to be set up to support startups and mergers, and to attract venture capital partners.

"This is not simply a foreign-owned hospital building. It's an international medical and wellness city, which can be understood as an industrial park dedicated to healthcare," said Pua Seck Guan, executive chairman and CEO of Perennial Group.

The project will be executed in several phases, utilizing the Guangzhou Baiyun Station Transit-Oriented Development (TOD) hub to establish a top-tier health industry ecosystem that combines healthcare, scientific research, wellness, and commercial activities.

The rendering of the Baiyun Mega Health City. [Photo/WeChat account: gz_baiyunfabu]

The first phase of the project involves the Baiyun Perennial International Hospital, which is scheduled to start operations by the end of 2026. This facility will be built and outfitted to serve as a full-service tertiary general hospital, offering advanced medical care across various specialties. It will also operate as an international oncology center, attracting patients from the region and beyond with its cutting-edge treatments and expertise.

Following this, the second phase of the development is planned for completion prior to 2028. This phase aims to establish an Asia-Pacific leading Continuing Care Retirement Community (CCRC).

It's set to cover about 190,000 sq m, moving beyond traditional elderly care models to integrate international rehabilitation hospitals, cognitive impairment care centers, high-end nursing facilities and smart age-friendly apartments under an internationally mature operational system.

Later phases will incorporate the establishment of specialized hospitals equipped with advanced medical technology, as well as pioneering cancer treatment centers that leverage cutting-edge research and innovation. The project also aims to attract top international medical institutions and resources, creating a comprehensive and integrated ecosystem. This ecosystem will encompass high-end medical services, dedicated research and development facilities, and exhibition facilities.

This project benchmarks against world-class institutions like Johns Hopkins Hospital, deploying a full-chain ecosystem spanning medical treatment, healthcare, medical aesthetics, internet medicine and pharmaceutical R&D, according to Sheng Minghong, director of the Baiyun district investment promotion bureau.

Sheng also added that the project is expected to become a bridge for international promotion of traditional Chinese medicine, utilizing Perennial's parent company, Wilmar International's global networks, to export Chinese medical technologies and services worldwide.

To attract global partners, Baiyun district recently introduced foreign investment incentive policies, including a maximum single reward of up to 10 million yuan to qualifying foreign investors and enterprises. These measures aim to stimulate development in cutting-edge fields such as biomedicine and providing substantial financial incentives, Baiyun district seeks to position itself as a preferred destination for foreign enterprises.