Perennial Holdings, Lujiazui Administrative Bureau and Lujiazui Group Sign Strategic Partnership to Establish Shanghai's First Wholly Foreign-Owned Tertiary General Hospital

SINGAPORE, July 31, 2025 /PRNewswire/ -- Perennial Holdings Private Limited ("Perennial Holdings") is pleased to announce that it has entered into a strategic partnership agreement with the Lujiazui Administrative Bureau of the China (Shanghai) Pilot Free Trade Zone ("Lujiazui Administrative Bureau") and Shanghai Lujiazui (Group) Co., Ltd., ("Lujiazui Group"), under which Perennial Holdings will incorporate a foreign medical investment company in the Lujiazui District to establish Shanghai's first wholly foreign-owned tertiary general hospital ("Perennial General Hospital Shanghai").

Perennial General Hospital Shanghai is expected to be established at a total investment cost of RMB500 million with a planned capacity of 500 beds. The hospital will be built according to international standards, integrating advanced medical equipment and technology, as well as global service standards. It will also encompass an outstanding team of medical experts from China and abroad to deliver patient-centred care. Aside from general medical areas such as internal medicine, surgery and health screening, the hospital will house centres of excellence with specialisations including orthopedics, oncology, cardiovascular diseases and otolaryngology. Designed with a garden-style healing environment and personalised care, the hospital is committed to delivering a safe, efficient and comfortable patient experience. The hospital will also serve as a premier platform for global medical exchange, fostering collaboration and sharing of clinical expertise.

Mr Pua Seck Guan, Executive Chairman and Chief Executive Officer of Perennial Holdings, said, "We are delighted to partner the Lujiazui Administrative Bureau and Lujiazui Group, bringing together our collective expertise and reaffirming our long-term confidence in China's healthcare market. Shanghai is a dynamic international financial and trade hub as well as a global tourism destination, attracting business elites, talents and high-net-worth tourists from all over the world. Along with the city's highly cosmopolitan local residents, Shanghai is witnessing a burgeoning demand for premium and personalised medical services."

Mr Pua added, "The Lujiazui District stands as the most globalised and comprehensive business ecosystem within Shanghai's financial centre. Located 30 kilometres from the Pudong International Airport and accessible via an eight-minute magnetic levitation train ride, the District enjoys strong international connectivity. The Perennial General Hospital Shanghai will leverage its strategic location to serve both local residents and expatriates in the city, and introduce innovative medical treatments and packages for high-net-worth international clients to support the growth of Shanghai's medical tourism sector. Through the hospital, we are committed to establishing an exceptional healthcare hub with global reach, contributing to the city's development as an international consumption centre."

A spokesperson from the Lujiazui Administrative Bureau, said: "We warmly welcome Perennial Holdings' introduction of international medical resources to the Lujiazui District, which will significantly contribute to our vision of building a world-class financial city. The Lujiazui District is a hub for nearly 50,000 domestic and international enterprises and 500,000 professionals. It has a distinctly outward-facing economy, with a highly integrated and developed industrial and urban ecosystem, making it an ideal city for living and working. Striving to become a key hub for Shanghai's "Five Centres" initiative and a leading development zone in the Pudong New Area, the District is focused on promoting regional economic development and optimising its business and living environments. This new hospital will be instrumental in developing Lujiazui District's "Big Health" industry ecosystem and elevation of its reputation worldwide."

A spokesperson from the Lujiazui Group, said: "Drawing from Perennial Holdings' international expertise in the healthcare sector, the Perennial General Hospital Shanghai will greatly benefit from Pudong New Area's conducive policies to introduce advanced international medical treatments and healthcare management to meet the diverse healthcare needs of residents across the Yangtze River Delta region and offer world-class medical services catered to expatriates. This hospital will be pivotal in advancing Lujiazui District's infrastructure, fostering integrated innovation across healthcare, finance and technology, while supporting the synergistic growth of Shanghai's international financial centre and the broader health industry."

As an integrated healthcare and real estate company, Perennial Holdings has five healthcare-centric transit-oriented developments ("TODs") typically integrating medical care, eldercare and hospitality components, connected to high-speed railway stations located in Tianjin, Kunming, Chengdu, Xi'an and Chongqing. Currently, the company owns, manages and operates over 25,000 beds in medical and eldercare facilities, comprising about 16,000 operational beds and over 9,000 beds in the pipeline, across 15 cities in China and Singapore.

For media enquiries, please contact:

Ms Tong Ka-Pin

Chief Corporate Officer

DID: (65) 6602 6828

HP : (65) 9862 2435

Email: tong.ka-pin@perennialholdings.com

Ms Crystal Tan

Assistant Manager, Investor Relations, Corporate Communications & Marketing

DID: (65) 6602 0994

HP : (65) 8128 8268

Email: crystal.tan@perennialholdings.com

About Perennial Holdings Private Limited ()

Perennial Holdings Private Limited ("Perennial Holdings") is an established integrated healthcare and real estate company headquartered in Singapore. The company owns, manages and operates over 25,000 beds in medical and eldercare facilities, comprising about 16,000 operational beds and over 9,000 beds in the pipeline, across 15 cities in China and Singapore. In China, Perennial Holdings owns and operates the country's first private integrated healthcare ecosystem, which combines a unique medical platform centred on partnerships with doctors and one of the largest private eldercare platforms in the country. Its comprehensive medical care facilities encompass general, rehabilitation, specialist and nursing hospitals, while its eldercare facilities include independent living, assisted living, nursing homes and dementia care. In Singapore, the Company will operate the nation's first private assisted living development and is set to launch the country's first-of-its-kind private integrated rehabilitation and traditional Chinese medicine sanctuary.

Perennial Holdings' quality real estate portfolio spans over 84 million square feet in total gross floor area across China, Singapore, Malaysia and Indonesia. The company focuses strategically on large-scale transit-oriented developments ("TODs"), serving as enablers of its healthcare portfolio, and landmark integrated developments. It has six TODs in China which are connected to high-speed railway ("HSR") stations, of which five located in Tianjin, Chengdu, Kunming, Xi'an and Chongqing, are healthcare-centric, and one commercial-centric HSR TOD is in Hangzhou.