First phase of The Nobel Healthcare Park at KL Wellness City 75% taken up; second phase to unveil in 2H2023

• Both the first and second phases of The Nobel Healthcare Park have a total gross development value (GDV) of RM250 million.
• Part of KLWC, The Nobel Healthcare Park has a total GDV of RM1 billion and will comprise 379 medical suites in two blocks, 512 wellness suites in one block, office space and retail shops.
• Facilities will include a half Olympic-length swimming pool, sauna, sky gymnasium and sky lounge.

KUALA LUMPUR (Jan 10): The first phase of The Nobel Healthcare Park in the 26.49-acre healthcare-themed development KL Wellness City (KLWC) has obtained a take-up rate of 75%, specifically for its medical suites.

At the press conference of their Chinese New Year event “Spring of the Auspicious 8” on Tuesday, KL Wellness City Sdn Bhd executive director of branding, sales and marketing Datuk Seri Vincent Tiew said: “Our bookings for the medical suites of the first phase of The Nobel Healthcare Park opened in April 2022 and they are 75% taken up, so far.”

“Due to the encouraging response, the second phase of The Nobel Healthcare Park will be unveiled in 2H2023. We anticipate our official launch (for the whole of KLWC) to take place this year, and are still firming up the plans,” he added.

“Based on our observation, our buyers [for the medical suites] are mostly doctors and medical practitioners based in Klang Valley, Ipoh, Penang and Johor. And all of the units comply with the Ministry of Health’s requirements.”

Both the first and second phases of The Nobel Healthcare Park have a total gross development value (GDV) of RM250 million.

Part of KLWC, The Nobel Healthcare Park has a total GDV of RM1 billion and will comprise 379 medical suites in two blocks, 512 wellness suites in one block, office space and retail shops. Facilities will include a half Olympic-length swimming pool, sauna, sky gymnasium and sky lounge.

Prices of the medical suites are about RM800,000 to RM1.2 million (between RM1,400 to RM1,500 psf), with average built-ups of 700 sq ft.

“We will also allocate about 7.42 acres of ‘strategic zone’ for our long-term, regional positioning. More details of it will be unveiled during our official launch soon,” said Tiew.

“At the end of the development's completion in 2032, we envisage a total of value (from the first plot to the final plot) to amount to approximately RM11 billion. And unlike other developments, our priority is to build the hospitals first before [foraying and unveiling] the other parts such as the residential properties in the development.”

The site, construction on which started in 2H2021, will see the completion of its first two blocks in 2025. The tertiary hospital is set to operate in 2026, with its construction “on track”, added Tiew.

Comprising a total of seven parcels, KLWC’s components will include a 624-bed tertiary hospital (that is scalable of up to 1,000 beds), 379 medical specialist suites, a retirement resort for independent living, a retirement resort for assisted living, a healthcare mall, residential units, commercial shop lots offering health and fitness-centric retail as well as food and beverage outlets, a Multimedia Super Corridor-designated office space, a central park with cycling and jogging track.

KLCW aims to be the first real estate development in the region to pioneer a comprehensive ecosystem of healthcare and wellness-centric living, and intends to position itself as a hub for local and international medical tourism.

Tiew said the development is targeting primarily [medical tourists and investors] from Indonesia, China and other countries in Southeast Asia.

At the event, KL Wellness City managing director Datuk Dr Colin Lee highlighted the local medical tourism industry, which has recorded RM726 million in revenue as of 3Q2022.

According to him, Malaysia has been receiving medical tourists from various countries, including Indonesia, Singapore, Australia and China, for its affordable and good healthcare.

“The country has a history of being one of the best locations for medical tourism, and leveraging on that, The Nobel Healthcare Park, is more than just its services — it is part of the KLWC ecosystem that covers the aspects of healthcare including acute medical care, emergency care, wellness, and fitness in addition to cultivating a lifestyle that is health-centric for its residents and medical professionals,” he added.

“We share the ambition to make Malaysia the undisputed destination for medical tourism, as well as setting a new benchmark for hospitality, living and medical care through KLWC.”