EC Healthcare (the Group) has formed a joint venture company with a real estate investment management company, KaiLong Group and Asia Allied Infrastructure Holdings to co-build a premium purpose-built medical-grade building in Hong Kong.
The Group has conditionally agreed to make initial capital contributions to the joint venture of up to HK$275 million ($35 million), which will represent 30 percent of the total enlarged issued share capital of the joint venture.
EC Healthcare will be the anchor tenant of the medical building upon completion for an initial term of five years with an option to extend a further five years.
The building is expected to complete construction by fourth quarter 2024.
The Medical Building will be located in the core commercial district in Tsim Sha Tsui on Cameron Road with an estimated lettable floor area of approximately 103,000 square feet.
“The Medical Building will become the centerpiece of our Group’s premium medi
