Sunway Healthcare and Putrajaya Holdings form JV for 325-bed hospital in Putrajaya
Sunway Healthcare Holdings Bhd has entered a 60:40 joint venture with Putrajaya Holdings to develop a 325-bed private hospital on freehold land in Precinct 7, Putrajaya. Construction is targeted to begin in Q4 2027 with completion in 2031.
PETALING JAYA (Oct 22): Private healthcare provider Sunway Healthcare Holdings Bhd (SHH) has formalised a joint venture with Putrajaya Holdings Sdn Bhd to develop a 325-bed private hospital in Putrajaya. In a Bursa Malaysia filing on Wednesday (Oct 21), SHH said its wholly owned subsidiary Sunway Healthcare Ventures Sdn Bhd had entered into a joint venture and shareholders' agreement with Tapak Senja Sdn Bhd, a wholly owned subsidiary of Putrajaya Holdings.
The agreement covers the construction and lease of Sunway Medical Centre Putrajaya on about 2.5 acres of freehold land in Precinct 7. In an accompanying media release, SHH described the partnership as a 60:40 joint venture. Construction is targeted to begin in the fourth quarter of 2027, with completion anticipated in 2031, subject to relevant approvals and project timelines.
Under the partnership, Sunway Healthcare will lead clinical and operational planning, secure the relevant operating licences and approvals, and lease and operate the completed hospital. Putrajaya Holdings will contribute the land and provide property development and infrastructure expertise. The site, held under Geran 9849, Lot 10007, Precinct 7, Bandar Putrajaya, is adjacent to Putrajaya Sentral, which provides ERL and MRT connections.
The proposed multi-specialty tertiary hospital will include a dedicated burns unit and is expected to serve Putrajaya, the wider southern Klang Valley and international patients. The definitive agreement follows the heads of agreement signed on April 23, 2025. Its term was subsequently extended to Oct 31, 2026. SHH described the development as its first joint venture project since its Main Market listing in March 2026.
Separately, SHH said its wholly owned subsidiary Sunway Medical Centre Penang Sdn Bhd had revised the terms of its proposed RM60 million cash acquisition of the Sunway Hotel Seberang Jaya property from Sunway Real Estate Investment Trust. The subsidiary signed a supplemental agreement on Oct 21 with RHB Trustees Bhd, acting as trustee of Sunway REIT, to amend the original sale and purchase agreement dated Oct 28, 2025.
The amendments set the cut-off date at July 28, 2027, or another date mutually agreed in writing, giving the vendor additional time to fulfil the conditions precedent. The balance purchase price will be payable within three months of the last condition precedent being fulfilled or waived, unless the parties agree in writing to an extended period.
Following a lease extension, the property's land particulars have been updated to Pajakan Negeri 14950, Lot 10869, Bandar Seberang Jaya, Seberang Perai Tengah, Penang. The proposed acquisition covers the approximately 4,294 sq m leasehold site, the hotel building and other structures, together with the vendor's fixtures, fittings, equipment and tangible property relating to the hotel. Apart from these changes and amendments to the notice provisions, all other terms of the original agreement remain unchanged.
