Jose says Gurugram will enable to strengthen presence in NCR
SGX-listed Thakral Corporation Ltd, through its Indian subsidiary, TIL Investments Pvt Ltd, has entered into a long-term arrangement with Manipal Health Enterprises Limited (NSE/BSE: MANIPALHOS) for leasing approximately 3.5 acres of land owned by TIL Investments Pvt Ltd in Gurugram, Delhi NCR, for the development and operation of a multi-specialty hospital.
The arrangement has been structured as a long-term land lease for an initial period of approximately 30 years. The first phase of the proposed hospital is expected to have up to 500 beds, said Thakral in a release on 4 Nov.
The land site is well connected to the Indira Gandhi International Airport and other major infrastructure nodes and is situated near upcoming residential developments and infrastructure projects. Delhi NCR is an important growth market for Manipal Hospitals, and the proposed hospital is expected to strengthen its presence in the region.
Anchored by this flagship hospital, the Group proposes to develop, an integrated health and wellness ecosystem that complements the hospital’s tertiary care and supported by hospitality and retail offerings. This development aligns with the Group’s strategy to address the region’s expanding healthcare and wellness demand and create a landmark wellness hub in Delhi NCR.
Inderbethal Singh Thakral, CEO and Executive Director of Thakral, said, “We are pleased to collaborate with Manipal Hospitals, one of India’s leading hospital groups. This arrangement provides our Group an opportunity to participate in the growth of India’s healthcare sector and marks our foray into healthcare-focused real estate.”
Dilip Jose, Chief Executive Officer (CEO) of Manipal Hospitals, added, “Delhi NCR is an important market for Manipal Hospitals. The proposed hospital in Gurugram will enable us to strengthen our presence in the region and serve its growing healthcare needs. We are pleased to collaborate with the Thakral Group and look forward to bringing Manipal Hospitals’ clinical expertise and patient-centric model of care to this location.”
Thakral Corporation’s core business comprises a growing investment portfolio in Australia, Japan, Singapore, India and London. In India, the Group is developing a mixed-use healthcare-led real estate project in Gurugram, Delhi NCR. Fiinews.com
