The Lippo Group of Indonesia has confirmed plans to build 20 new hospitals in Myanmar with a total project value of $1bn over the next ten years. Up to seven hospitals will be in Yangon. The Myanmar Investment Commission (MIC) has already approved the plan.
In 2014 Lippo Group and First Myanmar Investment (FMI) created a joint venture to update and provide international standards of medical facilities at the Pun Hlaing International Hospital, located in the Pun Hlaing Golf Estate.
The plan announces establishment of facilities outside of Yangon, which is a first for the Lippo Group, who confirm they wish to provide facilities at a national level in Myanmar.
Of the 20 new builds, the plan proposes 12 to be operational within 3 to 5 years.
Further announcements may follow concerning Lippo Group and new commercial retail property projects