KL Wellness City Sdn Bhd (KLWC)) anticipates announcing further plans for its premier KL Wellness City purpose-built township project in Bukit Jalil, Kuala Lumpur, this year, says the company's managing director Datuk Dr. Colin Lee.
Lee has high hopes for the medical tourism sector, which has sales of RM726 million as of the third quarter of 2022.
Since the pandemic began, the healthcare sector has experienced tremendous growth.
In 2025, it was predicted that the industry will generate RM2 billion in revenue annually.
The third and fourth parcels of the medical and wellness project, which has a gross development value (GDV) of around RM12 billion, will be introduced this year, according to him.
Lee was speaking to NST Property on the sidelines of the launch of KL Wellness City's "Spring of the Auspicious 8" celebration in Bukit Jalil today.
The 10.73-hectare development has a total of seven parcels for development, which is planned to be the first in Southeast Asia to create a lifestyle completely integrated with healthcare.
KLWC is the master developer and owner of the project, which will take about 10 years to complete.
The company purchased the land from the Armed Forces Fund Board (LTAT) in 2015.
It has so far opened two parcels, to develop the Nobel Healthcare Park and a 624-bed international tertiary hospital.
Launched in April, The Nobel Healthcare Park - which has a GDV of RM1 billion - consists of 379 medical suites in two blocks, 512 wellness suites in one building, with offices and retail shops on the ground floor of these blocks
Lee said that the company has almost completed the piling works for the hospital.
According to him, construction on the superstructure is scheduled to start in the second quarter of this year and be completed in less than three years.
"Hopefully the hospital will be open by the beginning of 2026. We have received approval for 624 beds, but it's scalable to 1,000 beds. We aspire to leapfrog Malaysia's healthcare tourism to another level," he said.
Lee suggested that the next thing to watch out for is medical real estate.
He said the company plans to expand the project by adding four blocks of service apartments with a healthcare and wellness theme.
"These products are in high demand, and our building plans have been approved. We are now collaborating with Exsim Group to construct the serviced apartments, which would generate a GDV of about RM1 billion," he said.