KL Wellness City set to transform this property niche
Whether ushered by the pandemic or a natural progression driven by the rising desire for health and well-being, the future bodes well for healthcare real estate. As demand rises and drives the industry’s rapid growth, hospitals and healthcare organisations have broadened their horizons and recognised the need to go beyond traditional hospital campuses.
Medical commercial real estate is quickly gaining ground in Malaysia as the nation retained the top spot as the global leader in medical tourist arrivals. Medical tourism contributed RM1.7bil to the nation’s revenue in 2019 from 1.22 million healthcare travellers. The closest competitor would be India with 700,000 medical tourist arrivals in 2019, followed by Thailand at 500,000.
Further driven by demographic shifts, as Malaysia looks set to become an ageing nation by 2030, the need for quality healthcare service is not just growing but is expected to continue to do so for the foreseeable future. With the rapid and unprecedented growth, healthcare providers have set out to carve new real estate opportunities in the healthcare industry.
Ahead of the curve, KL Wellness City has emerged as a pioneer in Malaysia and the region, creating a new concept of healthcare real estate that brings together complementary and ancillary medical services, a ready ecosystem for top-notch and state-of-the-art medical care, diagnosis and treatment, as well as access to world-class medical practitioners in one integrated, self-sustaining hub.
Offering healthcare, wellness and fitness facilities and services that encompass both Western and alternative medicine, it is touted as the first-of-its-kind development in Southeast Asia.
The fully integrated healthcare service provider has embarked on a game-changing development located in the matured and rapidly rising Bukit Jalil enclave. This development, on the 26.49-acre leasehold land, has a gross development value (GDV) of RM11bil and will be developed in seven phases across a 10-year time frame.
As an integrated and self-sufficient township, it is planned to support a healthy and balanced lifestyle combining the built environment with nature, green spaces and convenience creating an all-rounded destination for those who live and work here.
Heralding a new era in healthcare
KL Wellness City will reinvent how healthcare is viewed. Positioned as a world-class hub for both domestic and international healthcare and medical services, it will be centred around the International Tertiary Hospital, while planned as a balanced community consisting of retail shops, serviced apartments, office towers, a healthcare hub and a fitness-based central park.
With its comprehensive ecosystem, it is poised to become the country’s primary platform for integrated healthcare, as well as a vital destination for healthcare and medical tourism in Southeast Asia.
All of its real estate components will be interconnected and within walking distance. Divided into seven parcels of targeted development, the first phase, comprising the international tertiary hospital and The Nobel Healthcare Park with medical, wellness, business and retail suites kicked off in April last year and is expected to open its doors in 2026.
Approved for a bed capacity of 624, scalable to 1,000 beds, the international tertiary hospital is poised to take on the region’s topmost hospitals in Thailand and Singapore. It will offer similar disciplines as other tertiary hospitals but aims to be distinguished for its hi-tech, cutting-edge equipment, some of which are currently still in the final stages of development.
Medical real estate opportunities
The hospital will be linked to The Nobel Healthcare Park via a link bridge on levels 1 and 3 allowing quick and easy access for doctors practising at the Medical Suites and patients recuperating at the Wellness Suites.
Tower A and B of The Nobel Healthcare Park will comprise a total of 379 medical suites, while Tower C hosts 512 wellness suites designed for step-down care, healthcare traveller accommodation or short-term stay. Of similar sizes to hotel rooms, both the studio and the one-bedroom units come with cooking facilities.
The medical suites, which range from 248 sq ft to 1,500 sq ft, boast high returns on investment (ROI) for investors. Built in compliance with the Ministry of Health’s standards, it also features open-air lift lobbies and landscaped break-out areas on the rooftop. Both the Wellness Suites and the Medical Suites are connected to the Sky Deck at Level 12 which boasts an uninterrupted view of the skyline and an ideal relaxing zone for mental well-being with amenities such as a lap pool, gym, jacuzzi, lounge and green landscaping.
A key selling point of the Medical Suites is the full ownership accorded to the medical professionals, earning a free hand in operations of all aspects of their practice. Access to the international tertiary hospital with its range of modern, hi-tech facilities is an added bonus.
The ground floor of all three towers offers limited retail spaces ideal for artisan F&Bs, cafes, restaurants, pharmacies and convenience stores. Business owners are likely to enjoy high footfall from the anticipated domestic patients and medical tourist arrivals from Indonesia, Singapore, Australia and China.
Steadfast in its mission to promote R&D and innovation in medicine, KL Wellness City will also feature a multi-storey building that complies with Malaysia Digital (formerly known as Multimedia Super Corridor or MSC) Tier-1 status with the intention to provide the hardware to advance research in this area.
The essential amenities are interconnected by green pedestrian covered walkways with their wheel-chair friendly design and ample green pocket garden for a holistic work and life balance.
A real estate haven
Location matters. KL Wellness City has aptly chosen the burgeoning Bukit Jalil identified as a property hotspot in Klang Valley. Known for its excellent connectivity and accessibility through seven major highways the area also features six LRT stations within a 10km radius. Located a walking distance to Pavilion Bukit Jalil, the vicinity is home to six educational institutions, a real estate boon.
Another plus point for the development is its green building status having acquired the Green Building Index (GBI) certification for its operational efficiency and construction process. The certification which aligns with the United Nations’ Sustainable Development Goals (SDG) notches up its real estate value and attractiveness especially to organisations seeking sustainability compliant value chain.
KL Wellness City’s next phase of development will entail real estate opportunities in a retirement resort comprising four blocks of service apartments featuring a healthcare and wellness theme.
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