OUE’s expansion into the healthcare real estate segment is a strategic fit with its existing asset portfolio, and positions OUE to capitalise on the growing demand for quality healthcare in Asia.

OUE Lippo Healthcare

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In April 2017, OUE acquired a controlling stake in Catalist board-listed International Healthway Corporation Limited, an integrated healthcare services and facilities provider with an established market presence in Japan, the People’s Republic of China and Malaysia. The company changed its name to OUE Lippo Healthcare Limited (OUE Lippo Healthcare) with effect from 9 October 2017.

OUELH currently owns and manages a portfolio of 12 quality nursing homes in Japan located in the cities of Sapporo, Nara, Kyoto and Nagano. In addition, it has plans to develop an integrated hospital project in Dujiangyan, Chengdu, and a wellness-themed integrated mixed-use development in the heart of Kuala Lumpur, Malaysia.

As part of its ongoing efforts to expand its reach, in 2018 OUELH acquired a stake in Bowsprit Capital Corporation Limited, the manager of SGX Main Board-listed First Real Estate Investment Trust, Singapore’s first healthcare real estate investment trust, whose portfolio includes healthcare assets in Indonesia, Singapore and South Korea.

In China, through a strategic partnership with China Merchants Group (CMG), OUELH has signed management agreements to manage three hospitals in Shanghai, Chongqing and Nanjing, and has entered into a non-binding letter of intent to jointly develop, operate and manage a high-end international hospital in Prince Bay, Shenzhen, which is set to be a flagship development within the Guangdong-Hong Kong-Macao Greater Bay Area.

Extending its reach to Myanmar, in January 2019 OUELH entered into a sale and purchase agreement for the acquisition of stakes in two joint venture companies which between them own three hospitals located in Yangon, Mandalay and Taunggyi, as well as one medical centre and two clinics.

Given the increasing demand for quality healthcare driven by rapidly ageing populations, growing affluence and technological developments, OUE is well positioned to capitalise on the growth potential in the healthcare segment through OUE Lippo Healthcare.

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