IHH Inks MOU With PHB To Develop New Medical Block For Gleneagles

Pantai Medical Centre Sdn Bhd has inked an MOU with Pelaburan Hartanah Berhad for the development of a new medical block adjacent to the current Gleneagles Hospital Kuala Lumpur complex, to be leased from PHB for an initial period of 20 years.

Post- expansion, Gleneagles Hospital Kuala Lumpur will enter a new phase of growth and is on track to be one of the largest private hospitals in Malaysia by 2027, with over 700 beds. Jean-François Naa, Chief Executive Officer of IHH Healthcare Malaysia said, “In line with IHH Healthcare Malaysia’s organic growth strategy to expand the availability of quality
healthcare across our network, we are strengthening Gleneagles Hospital Kuala Lumpur’s position as one of the leading private healthcare providers in Malaysia. This will enable us to deliver exceptional care to meet the growing demands of local patients and medical tourists.”

The new purpose-built medical block for Gleneagles Hospital Kuala Lumpur, to be completed by 2027, is envisioned to encompass 470,000 square feet gross floor area with over 260 beds, subject to regulatory approvals. It will be equipped with state-of-the-art facilities aimed at providing patients with highly specialised care in emerging sub-specialties such as micro and hand, foot and ankle, spine surgeries. It is also specifically designed with a high allocation of single beds to meet rising demand for individualised patient care.

With the aim of achieving a RM25 billion asset portfolio by 2030, PHB said it is strategically rebalancing its investments in healthcare, industrial sectors, K-12 schools and data centres to ensure sustainable income. PHB is also dedicated to providing added value as a monetisation and financial partner, enabling our collaborators to concentrate on their core
business, while efficiently allocating their capital towards primary operations.

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