IHG and CREC agree 50/50 Joint Venture
1 Jun 2014
JUNE 2014: China- IHG/ Guizhou China Railway and Engineering Company ( CREC) agree 50/50 joint venture for development of 200 bed private hospital and 200,000 Sq Mts of residential development focused on the over 65 market at CREC’s 550 hectare development in Guiyang.
CREC is a super large Chinese state-owned enterprise, one of the World’s top 500 brands and powerful enterprises and the world’s largest building contractor listed on the Shanghai and Hong Kong stock exchanges.
CREC have been tasked by the Chinese Government with creating the National Demonstration Project for Senior Care for China at its 550 hectare Sun Valley development in Guiyang.
While the final terms of the Joint Venture between IHG and CREC are being finalized CREC have engaged IHG to create a brand, facility and services strategy, business plan and feasibility study. It includes the outline for an advanced integrated development plan and management system, focused on the needs of elderly people and other patients for; wellness, prevention, medical care, healthcare and senior care across the new community at Sun Valley.