HOA LAM-SHANGRI-LA JV TO DEVELOP VIETNAM’S INTEGRATED, WORLD-CLASS HEALTHCARE PARK
Ho Chi Minh City, Vietnam, 9 October 2008:
Hoa Lam-Shangri-La Healthcare Limited Liability Company (‘Hoa Lam-Shangri-La’) will be developing Vietnam’s largest International Hi-Tech Healthcare Park which spans over 37.54 hectares (approximately 93 acres or 375,000 m2). The development which is expected to span over a period of 9 years, and will feature a world-class healthcare environment for medical professionals and patients which includes private tertiary care and teaching hospitals, research centers, medical institutes, commercial and retail components as well as supporting service residences and other community facilities.
Located in the Binh Tan District, just 10 kilometres (or 30 minutes) away from the heart of Ho Chi Minh’s Central Business District (District 1), the International Hi-Tech Healthcare Park is also easily accessible via a direct highway link to Ho Chi Minh City’s International Airport.
At the groundbreaking ceremony of the International Hi-Tech Healthcare Park this morning, Chairman of Hoa Lam-Shangri-La Healthcare Limited Liability Company, Madam Tran Thi Lam said, “I’m delighted to note that the Government of Vietnam, together with several foreign investment partners, have come together to make the vision of an International Hi-Tech Healthcare Park in Ho Chi Minh City a reality. Indeed, this mutually-beneficial partnership will not only attract local and foreign investments, but will serve both the healthcare needs of the expatriate community working in Vietnam but also the nearly 85 million population of Vietnam. Healthcare is definitely tops on the agenda for Vietnam, as one of the world’s fastest growing economies averaging at 7% in the last 5 years, and I am very lucky to meet Mr. Thomas Thang – General Secretary of Hong Kong Business Association Viet Nam, who guide me to meet with present partner”
The Groundbreaking Ceremony for the International Hi-Tech Healthcare Park, as to the Government, was witnessed by Mr. Le Hoan Quan Municipal Party Committee Deputy Secretary, Member of Central Communist Party, the People Committee’s Chairman, Mr. Nguyen Quoc Trieu - Member of Central Communist Party, Minister of Health. Specially, the attendance of the first lady - wife of the Prime Minister of Viet Nam and representative of government authorities.
As to investors and partners, in attendance were also Dato’ Mohammed Azlan bin Hashim (Chairman of Aseana Properties Ltd), Mr. Lai Siew Hon (Group Managing Director of Ireka Corporation), Mr. Lai Voon Hon (General Director of Hoa Lam – Shangri-La), Dato’ Seri Ismail Shahudin (Director of Asiana Properties Ltd), Mdm Tran Thi Lam (chairman of Hoa Lam – Shangri-la), Mr. Mr. Tony Tan (Executive Chairman of Island Hospital), Dr. Authur Lim (Eye Clinic), Mr. Ong Chu Poh (CEO of Econ Medicare Centre Holdings Pte Ltd, Singapore), Dato’ Kong Hon Kong (shareholder of Shangri-La Healthcare Investment Pte. Ltd), Mr. Thomas Thang (shareholder of Shangri-La Healthcare Investment Pte. Ltd and General Secretary of Hong Kong Business Association Viet Nam). Dr. K.C. Tan – worldwide leading specialist in liver cancer (Glen Eagles Hospital)
Incorporated in Vietnam, Hoa Lam-Shangri-La is a 30:70 joint venture between Hoa Lam Services Co. Ltd. (Vietnam) and Shangri-La Healthcare Investment Pte. Ltd. (Singapore). Aseana Properties Limited (‘Aseana’) has an effective 51% stake in Hoa Lam-Shangri-La and will lend its expertise as a Master Developer, responsible for planning, developing and marketing the International Hi-Tech Healthcare Park, together with Ireka Development Management Sdn Bhd (a wholly-owned subsidiary of Malaysia listed-Ireka Corporation Berhad) as the Project Manager.
Hoa Lam-Shangri-La is going to enter the partnership with a very professional investor in medical field, Mr. Tony Tan. He has over 20 year- experience in investment, establishment, operation of over 10 hospitals and healthcare centres successfully in Asea. Specially, the reputable hospitals in Singapore Gleneagles Hospital and Mount Elizabeth Hospital, in Malaysia, Pantai Hospital.
Madam Lam added, “It is our commitment to turn Ho Chi Minh City’s International Hi-Tech Healthcare Park into an integrated healthcare development that would serve not only healthcare needs of the larger community but also to provide medical professionals with a fully supportive state-of-the-art environment that meets all their professional needs.”
The development for the International Hi-Tech Healthcare Park was licensed and approved by the People’s Committee of Ho Chi Minh City on 10 July 2008 with a development cost of approximately USD400 million.
Construction of the International Hi-Tech Healthcare Park is targeted to commence by the end of 2008. Upon completion, the International Hi-Tech Healthcare Park will be a fully integrated ‘Medical City’ with approximately one million sq m2 of gross floor area. The development consists of 4 components which includes the Healthcare, Educational, Support and Community facilities such as hospitals, laboratories, medical suites, international schools, retail mall, offices, serviced apartments, hotel and convention centre.
Speaking at the groundbreaking ceremony, General Director Lai Voon Hon said, “The conceptualisation of the International Hi-Tech Healthcare Park stems from the vision of our local partner, Madam Thi Lam of Hoa Lam Group (Vietnam) as well as the respectable leaders of Ho Chi Minh City’s People Committee. Undeniably, their foresight in developing Vietnam’s largest, integrated healthcare park will provide the platform to improve existing medical facilities to serve the whole of Vietnam as well as the region. This development is truly a landmark venture as it involves the culmination of investments of 4 parties from Vietnam (through Hoa Lam Services Co Ltd), Singapore(through Shangri-La Healthcare Investment Pte Ltd) and UK(through Aseana Properties Ltd as the Investor), Malaysia (through Ireka Development Management Sdn Bhd as the Development Manager). Together with our joint venture parties, we are committed in making this vision a reality.”
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