Sunway Bhd is buying a leasehold plot in Kelantan for RM28.70 million to construct a 200-bed hospital, which will mark the group's maiden healthcare expansion into the east coast region.
The hospital's estimated development cost is RM200 million, Sunway said in a stock exchange filing yesterday.
The plot measures 3.811 ha (9.417 acre) and is located at Bandar Kota Bharu — a rapidly developing area of Kota Bahru, and is within one kilometre from amenities such as Aeon Mall Kota Bharu, Platinum Wholesale Mall and Tesco Kota Bharu, said Sunway. The plot's leaseholding will expire on Aug 20, 2102.
Sunway said its subsidiary Sunway Medical Centre Kota Bharu Sdn Bhd (SMCKB) has inked a sale and purchase agreement with Liziz Standaco Sdn Bhd, a property development company, for the acquisition that it will fund using borrowings and internal funds.
Land price
- RM28,704,410 / 9.417 arce = RM3,048,148 per acre
- RM28,704,410 / 410212 sq ft = RM70 per sq ft
