Vaishnavi Group to build and lease 3.3 lakh square feet space to Manipal Hospitals in South Bengaluru

Vaishnavi Group to build and lease 3.3 lakh square feet space to Manipal Hospitals in South Bengaluru

 

Bengaluru, 22nd November 2023: Leading real estate developer Vaishnavi Group today announced the expansion of its partnership with Manipal Hospitals, India’s leading multi-specialty hospital chain to develop a built-to-suit hospital in South Bengaluru. This development assumes significance as there has been a significant uptick in the demand for quality infrastructure in the medical and wellness sector to cater to the growing medical needs of citizens.

Spread across a super built-up area of 3.3 lakh square feet, the proposed tertiary care hospital is being designed as a ‘World-class’ hospital with 250 beds offering a comprehensive range of curative and preventive healthcare services to a multitude of patients.

The project, named Vaishnavi Sushrutha, after the great Indian surgeon Sushrutha who is often touted as the ‘Father of Surgery’. Located on Kanakapura Main Road, the construction for the built-to-suit hospital began in March 2022 and will be completed by December 2024, making it one of the most advanced hospitals in the city.

Darshan Govindaraju,

Commenting on the development, Darshan Govindaraju, director at Vaishnavi Group said, “The needs of the medical and wellness industry have significantly evolved over the years and particularly with the COVD-19 pandemic accelerating the health awareness of the public and the introduction of highly specialised healthcare. We are delighted to extend our existing partnership with Manipal Hospitals to develop a built-to-suit hospital with state-of-the-art design to house the most advanced healthcare professionals and equipment. This is also a testament of the industry leaders identifying Vaishnavi as their preferred partner for their highly specialized needs”.

“As an organization committed to improving public health through industry-first medical interventions, we have been constantly identifying opportunities to provide enhanced healthcare across the city. In line with this, we are glad to work on our newest hospital on Kanakapura Main Road in partnership with the Vaishnavi Group.,” said spokesperson of Manipal Hospitals.

According to a report by international property consultant CBRE titled, “The Evolving Indian Healthcare Ecosystem”, India will require 1.3 billion square feet of additional healthcare space by 2030. The country will require 2.9 million additional hospital beds to reach the current global average of 3.2 beds per 1,000 persons. This assumes significance as India is fast becoming a popular destination among medical tourists coupled with a strong demand for private healthcare providers in both rural and urban centers, and the shift from disease cure to prevention and wellness are expected to drive this sector to greater heights in the future.

Rabindra

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