The genius of this comprehensive healthcare and wellness ecosystem is that it also creates an investment opportunity for those looking to invest their money in sustainable properties.
Over the years, Malaysia has gained a reputation as a trusted medical tourism destination for international patients from around the world. Not only certain medical procedures are more affordable, but those who chose to come here are also seeking high-quality healthcare services.
One of the most crucial factors contributing to medical tourism’s success in Malaysia is the unwavering support received from The Malaysia Healthcare Travel Council (MHTC)—an agency under the country’s Ministry of Health— and the cultivation of solid public-private healthcare collaborations.
Accommodation is a key component in the healthcare and wellness travel ecosystem. Patients who travel to another country seeking medical treatment require an environment that can support their needs post-treatment. These requirements include wheelchair-friendly access, an adequately equipped toilet, immediate access to recovery check-ups, tailor-made dietary plans, and access to efficient transportation.
Everything KL Wellness City readily offers.
Introducing KL Wellness City
KL Wellness City is a 26.5-acre, healthcare and wellness-themed master township development located in the heart of Bukit Jalil, Kuala Lumpur. It is conveniently situated opposite one of the latest mega shopping malls in Malaysia, Pavilion Bukit Jalil and only 45 minutes away from the Kuala Lumpur International Airport (KLIA).
It is a comprehensive integrated township consisting of a unique ecosystem that integrates five elements: an international hospital, medical suites, commercial space, office space (which includes MSC designated office spaces) and wellness residential (serviced suites, retirement homes and lifestyle homes).
The winner of Best Mixed-Use Development (Asia) and Consumer Game Changer at the 17th PropertyGuru Asia Property Awards 2022, KL Wellness City is the first real estate development in Southeast Asia to offer such a comprehensive ecosystem of healthcare and wellness services.
Some of its impressive offerings include a 624-bed tertiary hospital (with a capacity of up to 1,000 beds); retirement resorts for independent and assisted living; 379 privately owned medical specialist suites; residential units; commercial shop lots & a healthcare hub); a central park with cycling and jogging tracks; and a Tier 1 Multimedia Super Corridor-designated office spaces.
A healthcare developer with a regional positioning mindset
With driving forces such as Dato’ Dr Colin Lee (who began his career as a medical doctor from the University of New South Wales, Australia) as the managing director of KL Wellness City Sdn Bhd (KLWC); Dato’ Sri Dr Vincent Tiew (previously the managing director of the Andaman Property Management Group of Companies) as KLWC executive director; and a group of experienced C-Suites, it is targeted to become a hub for local and international medical tourism.
The Malaysian government’s support for the medical tourism industry is another impetus for the success of KL Wellness City. RM20 million has been allocated for efforts to advance Malaysia as a medical tourism destination, RM90 million in grants to promote tourism activities, and RM200 million to boost tourism recovery under budget 2023.
The Malaysia Healthcare Travel Council (MHTC), an agency under the country’s Ministry of Health recognises Malaysia’s potential in generating medical tourism revenue, focusing its efforts on strengthening the country’s reputation as the Fertility and Cardiology Hub of Asia, Cancer Care Centre of Excellence, as well as the Hepatitis C Treatment Hub of Asia.
In 2020, the Malaysian medical tourism market was valued at US$1.2 billion and is estimated to expand at a CAGR of 4.5% from 2021 to 2028. By the end of 2028, the value is projected to be valued at US$5.1 billion.* This shows that medical tourism is a strong recurring profit-making industry with huge potential.
Source: Malaysia Medical Tourism Market Outlook 2028*
The Nobel Healthcare Park’s Medical and Wellness Suites
The Nobel Healthcare Park at KL Wellness City is truly a mindfully designed hub. It comprises 512 wellness suites in one block, 379 doctor’s privately owned medical suites spread across two blocks, office spaces and retail shops. It also boasts other facilities such as a 50-metre length swimming pool, sauna, sky gymnasium and sky lounge for the owners including doctors, nurses, office occupants and tenants to chill and relax coupled with an almost one-acre space size of garden & wellness relaxation zones.
The first phase of The Nobel Healthcare Park medical suites which opened for booking in April 2022 received an encouraging response with a 75% take-up rate so far. The medical suites which are priced between RM800,000 to RM1.2 million received interest from doctors and medical practitioners from all over the country mainly from Klang Valley, Ipoh, Penang and Johor.
The medical suites are built in compliance with Ministry of Health specifications and designed based on the core management team’s own experience in the medical field. With an average built-up of 700 sq ft, they are designed in a modular format and infused with elements that allow specialists to choose the ideal size for their practice and the freedom to make changes according to their evolving needs.
On the other hand, the healthcare-focused Wellness Suites is the latest hot investment offering in The Nobel Healthcare Park, with a starting price of RM366,000. Its affordable entry price point presents investors with an excellent opportunity to enjoy double-digit high rental ROI.
The Wellness Suites are fully equipped and provide adaptable living spaces that are versatile enough to be used for owner occupancy, home office use, or short-term stays such as step-down care and healthcare traveller accommodations. It addresses the gap in the market when it comes to healthcare accommodation by providing medical tourists with top-notch healthcare services, comfort, and convenience.
KL Wellness City also offers hospitality services and rental management to help manage short-term stays for optimum investor ROI.
Looking to invest in The Nobel Healthcare Park’s Medical and Wellness Suites? Visit the KL Wellness City website for more information and enjoy the pre-launch packages/offers.