KL Wellness City in Bukit Jalil is an integrated township offering medical facilities, retail services, and modern residences
INVESTING wisely for a secure future is our collective aim.
One of the things that people put their money into is real estate, for the returns that property can bring us when the development matures.
The benefits of adding wellness developments into your investment portfolio are manifold, especially in an era of medical tourism and ageing population.
KL Wellness City is a wellness-centric township built on 10.7ha of land in Bukit Jalil, KL, that offers best investment opportunities for property investors, buyers, and stakeholders.
As an integrated township and a unique asset class type, KL Wellness City was systematically planned before the development took place and fits the Global Wellness Institute’s definition of wellness real estate.
“Wellness real estate generally comprises hospitals, medical centres, clinics, R&D centres, offices, hotels, retirement suites, senior and independent living units, and, lifestyle and residential spaces.
“It simply reflects a township that, from the first day its master plan is designed, is supposed to be an integrated ecosystem that addresses healthcare, wellness, medical needs and good lifestyle,” says KL Wellness City Sdn Bhd executive director (branding, sales and marketing) Datuk Seri Vincent Tiew.
The Nobel Healthcare Park
Under the first phase, its master developer KL Wellness City Sdn Bhd started by building an international tertiary hospital in 2021 which is scalable to 1,000 beds, with 22 operating theatres.
At the same time the developer started construction of The Nobel Healthcare Park, a dedicated medical and wellness suite complex with a GDV of RM1bil that consists of four components – retail, medical, business and wellness suites – touted to be first such facility in South-East Asia, and its units are available for sale now.
“The 6m-high retail suites, with an average price tag of RM2mil, are very good investment. It’s like owning a retail unit on the ground floor of a hospital. This is a golden opportunity because not everyone will have the chance to own a hospital ground floor shoplot,” he says, adding that the range of businesses one can operate there include F&B, pharmacy, convenience store, and other essential goods and services.
Just like similar business models in Hong Kong and Singapore, the developer is offering two blocks of private-owned medical suites, targeted at medical specialists and healthcare-related companies who have so far snapped up over 75% of the units in the first phase of the medical suites.
Tiew says that office space and business suites are available, while the MSC tier one office tower will be available for rent and targeted at MSC-status companies in the fields of health technology, healthcare-related technology apps, software development, robotics, pharmaceutical-related technologies, and e-commerce.
The wellness suites are designed in compliance with Health Ministry’s usual specifications for hospital and residences.
“Their size is similar to hotel rooms and they come fully-furnished, complete with finishes and electrical appliances,” he says.
These wellness suites are targeted at outstation or overseas patients who may travel with family members here for treatment.
“They (family members) can stay at KL Wellness City which makes visiting and tending to the ill family member easy,” he says, adding that the suites have facilities for cooking.
Most importantly, it is a comfortable and convenient stay for patients who are recuperating from surgery and need follow-up visits to their doctors, says Tiew.
The wellness suites can also serve as living quarters for doctors and nurses working in KL Wellness City.
“We estimate that there will be more than 3,000 nurses at the hospital, and up to 1,000 nurses at the medical centres,” he says.
The pre-launch price for the 512 units of wellness suites starts at RM366,000; the units are due to be ready in 2026.
Tiew shares that the wellness suites can be offered as homestay accommodation.
“From 20 days of occupancy per month at a conservative rate of RM230 per day, that would be RM4,600 rental per month,” he says, adding that this is considered good returns for a RM366,000 property.
He says the KL Wellness City hospitality team offers rental management services for the wellness suites owners.
“We offer an attractive profit sharing arrangement for the first two years – 80% to owner, 20% to KL Wellness City,” he says.
Return of medical tourists
KL Wellness City’s international hospital is scheduled for opening in 2026.
“Our hospital will be positioned as a medical tourism hospital in the pipeline. We plan to have shuttle buses from the hospital to and from Pavilion Bukit Jalil across the road as well as to the KL International Airport,” he shares.
He adds that the Health Ministry and the Malaysia Healthcare Travel Council recently released a report that the number of medical tourists to Malaysia is expected to grow even more from 2024 onwards.
“Prior to the pandemic, Malaysia secured a fantastic 1.3 million foreign medical tourists, and we were ranked No.1 among the top global healthcare destinations.
“MHTC foresees a large influx of medical tourists/healthcare travellers from 2024 onwards. This means the commercial and accommodation needs will be in high demand and will easily generate high yield,” he says.
KL Wellness City is the winner of the Best Mixed-Use Development in Asia award at the Asia Property Awards 2022, and the Consumer Game Changer, Asia Property Awards 2022. For more information, go to www.klwellnesscity.com or call 03-8090 7778.