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News Updates & Article sharing

Investment opportunities in KL Wellness City

12/5/2022

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The healthcare industry has boomed since the onset of the pandemic. Its growth has also created opportunities for medical real estate. While the focus of Malaysian property investors has primarily been on residential and commercial properties, medical real estate is the next property type to look out for.

​KL Wellness City (KLWC), which offers holistic facilities and services that encompass healthcare, wellness and fitness involving both Western and alternative medicine, is billed as the first-of-its-kind development in Southeast Asia. It strives to establish a comprehensive, fully integrated and interconnected system of medical care, wellness and fitness.

According to KL Wellness City Sdn Bhd managing director Datuk Dr Colin Lee, KLWC is a 26.5-acre, healthcare-themed development in Bukit Jalil, Kuala Lumpur. Spread across seven parcels, the components will include a 624-bed tertiary hospital (with capacity of up to 1,000 beds), 379 medical specialist suites, retirement resorts for independent and assisted living, a healthcare mall, residential units, commercial shoplots offering health and fitness-centric retail as well as food and beverage outlets, a Multimedia Super Corridor-designated office space, and a central park with cycling and jogging tracks.
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Medical Real Estate

The first phase consists of the hospital and The Nobel Healthcare Park, both of which will be connected by a link bridge. Launched in April, The Nobel Healthcare Park - which has a gross development value of RM1 billion - will comprise 379 medical suites in two blocks, 512 wellness suites in one block, and office space and retail shops on the ground floor of these blocks. The whole phase will be completed by end-2025.

The medical suites, which range from 248 to 1,500 sq ft, will be sold at an average price of RM1,500 psf. Meanwhile, the wheelchair-friendly, healthcare-focused wellness suites will have built-ups of 268 and 386 sq ft, and will be sold from RM1,300 psf. Lee says these two real estate properties present a good investment opportunity for investors.

"Being a medical specialist myself, I know what is required. Many specialists want their own clinic where they are able to prescribe medicine, charge the fees they want, and perform small procedures and laboratory tests. They can also do corporate planning, and engage junior doctors as they get older and become more established," he explains.

Lee adds that under the system in Malaysia, medical specialists get to rent clinic space in a hospital while everything else is controlled by the hospital. They are bound by various regulations for the procedures, charges, lab tests, drugs and hiring.

"Many specialist doctors would like to have their own clinic, but the current situation is that if they do own one, it will be located far away from the private hospital. Whenever they have patients in the hospital, and quite often these are emergency cases, they have to travel back and forth. This is very inconvenient for both doctors and patients."

The medical suites in The Nobel Healthcare Park cater for such demand. Specialists can acquire and operate their own clinic, thus giving them the freedom to run it as they wish. They are able to see patients in their clinic and then walk over to the hospital to check on other patients. The medical suites can also be used by other medical and wellness-related businesses such as physiotherapy, chiropractic, medical device supplies, pharmaceutical and spa.

The upcoming KL International Hospital is a benchmark against top hospitals in the region and is set to leverage on Malaysia's position as the top world destination for medical tourism, says Lee. He notes that Malaysia has been receiving medical tourists from various countries, including Indonesia, Singapore, Australia and China, for its affordable and good healthcare. Travelling with them are their families, who will need accommodation. The wellness suites in The Nobel Healthcare Park may thus be ideal.
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Healthcare-focused wellness suites; high rental return

​"There are doctors and healthcare workers who want to live there. When the hospital is fully operational, we expect 8,000 units of accommodation will be needed per night due to the demand from medical tourists. The whole KLWC won't have that many number of units, so we expect the wellness suites to be fully occupied," he says.

The suites also cater for patients who are in step-down care - those who have been discharged from hospital but are still recovering and may require some assistance such as daily physiotherapy or rehabilitation.

Property investors can rent out the hotel-like wellness suites to the families of medical tourists. The suites are even equipped with a kitchenette and fridge, which is convenient should they prefer to cook their own food.

As doctors can also acquire the wellness suites for their own use, coupled with the anticipated demand, Lee expects these suites to be fully occupied.

"The wellness suites could see a high rental return… The yield for a wellness suite could be 15% to 18% [if one manages the unit himself]. Aside from doctors, other buyers include property investors," he says.
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Wellness redefined
Lee observes that people have become more health-conscious since the onset of the Covid-19 pandemic, realising the need to live healthily. It so happens KLWC was conceptualised based on the fact that people want to live well.

"We have made an effort to design and build to enable wellness living. We have increased the ratio of green, thus allowing more sunlight and ventilation, which can increase the value of the property," he says.

"It is a healthcare city where all kinds of medical facilities and services are available. For The Nobel Healthcare Park, however, it is not just about the services - it is part of an ecosystem that covers all aspects of healthcare, including acute medical care, emergency care, wellness and fitness. It is designed and built for medical professionals and seekers, both local and abroad."
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  • Home
  • New Property Launch
    • Sepang Freehold Individual Title AI Cluster & Semi D Warehouse Factory
    • Lakeside Freehold Fully Residential Private Lifestyle Condominium in Cyberjaya
    • Spacious 2024 Completion KL Condo Fully Residential KLCC View
    • RUMAWIP Bukit Jalil (Bumi Only)
    • Lake City @ KL North NEW PHASE FROM RM380k
    • Alora Residences – Inspired living within greenery in Subang Jaya
    • PJ Spacious and Affordable 5 Star Condo
    • Bangsar South 2 Rooms from RM390k BELOW Market Price
    • 10% ROI PJ Project near Ikea and One Utama Mall
    • Project Announcement Registration. Malaysia New Property Launch
  • Existing & Past Project
    • Best Investment 2022 PJ Damansara Low Risk Low Entry Price High ROI
    • 2022 PJ Rumah Mampu Milik RM270k Damansara
    • Mid Valley Seputeh New Launch
    • Pavilion Damansara Heights 柏威年 白沙罗岭 马来西亚 吉隆坡 精选楼盘
    • 马来西亚RM300千的PJ屋子-首购族,年轻人月入3千能买房
    • 2021 Penang Most Awaited Project
    • 2021 New Launch - KL Metropolis
    • Freehold LRT Linked 3 Room Suites in Glenmarie
    • New SPACIOUS Kepong Landed 6 Room 6 Bath
    • Bangsar Last Piece Land New Launch
    • Avara Seputeh (Mid Valley)
    • 2020 Lowest Risk & Price in Klang Valley with Great ROI
    • Kiara East Suite Dex
    • 2019 SAFEST PROFITABLE HIGH CASHBACK INVESTMENT
    • Best Property Investment Projects in 2018
    • KL City Freehold Spacious Affordable 3 room Project
    • Jalan Kuching Freehold New Office & Shoplot
    • Jalan Ipoh New Freehold Shoplot & Offices
    • RM300k KL Sentral New Prelaunch
    • The Olive Condo, Sunsuria City
    • Prelaunch Landed House Bukit Rahman Putra
    • RM260k No Downpayment Puchong South Suites
    • PJ North RM400k High Cash Back Project
    • Denai Sutera @ Alam Sutera, Bukit Jalil
    • First Phase of Banting New Township
    • Neu Suites 3rdNVenue @ Embassy Row by Titijaya & CREC
    • COURT 28, Jalan Ipoh KL City New Property Launch Service Apartment. Malaysia New Property Launch
    • Semanja Kajang New FREEHOLD Kajang Double Storey Houses. Malaysia New Property Launch
    • M Suite @ Desa Park North
    • BIJI LIVING @ Sek 17 PJ City by Conlay. Malaysia New Property Launch
    • Amani Residence Bandar Puteri Puchong New Freehold Service Apartment. Malaysia New Property Launch
    • SFERA RESIDENCY @ Puchong South. Malaysia New Property Launch
    • KL North Last Release
    • PreLaunch Freehold Double Storey
  • LAND
  • News & Articles
    • Educational Articles
    • Ho Chin Soon Greater KL Map Sharing
  • Other Reference Link & Services
    • Land Sale Malaysia
    • Other Professional Services
  • Referral
  • Career
  • MPIG
    • About Us
    • Contact Us
  • Get Professional Advice
  • PJ八打灵全新地产项目分析手册
  • Privacy Policy