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IHH Subsidiary Buys Land In Hong Kong For Hospital
IHH Healthcare[euro](TM)s subsidiary GHK Hospital has completed a deal to buy a land parcel in Hong Kong for HK$1.69 billion to build and run a new private hospital. GHK Hospital is 60 percent owned by IHH Healthcare[euro](TM)s Parkway HK Holdings and 40 percent owned by Media Year Investments [euro]" a wholly owned unit of Hong Kong-listed NWS Holdings, the infrastructure and service arm of New World Development Company. The total capital investment required for the new hospital is pegged at HK$5 billion, inclusive of land acquisition costs. The plot of land measures 27,500 square metres (sq m) and offers a maximum gross floor area of 46,750 sq m. The new hospital will partner the Li Ka Shing Faculty of Medicine of the University of Hong Kong, which will oversee the clinical governance, professional standards, and the appointment and training of medical staff. The new hospital is slated to commence operations in late 2016, once construction has been completed,...