Mumbai: Temasek and TPG-backed hospital chain operator Manipal Health Enterprises has acquired a hospital property in Mumbai’s western suburb of Andheri for Rs 495 crore in one of many greatest healthcare actual property transactions in the nation thus far this yr, in keeping with property registration paperwork reviewed by ET.
The transaction entails a land parcel measuring round 0.19 acre together with an operational hospital constructing unfold throughout a built-up space of practically 2.22 lakh sq ft in Andheri East. That is the second leg of the transaction that takes the worth of the whole deal to Rs 908 crore.
The first hospital land parcel, constituting a majority of the two.62-acre space, together with the principle hospital constructing, had already been bought to Manipal by means of an earlier transaction registered in 2024, underneath which the corporate had paid Rs 413 crore.
The property was acquired from a consortium of sellers comprising Khubchandani Hospitals, Khubchandani Properties and Funding and Good Realty. The second tranche of the whole transaction, concluded on Could 6, has attracted a stamp responsibility fee of Rs 29.22 crore, confirmed the paperwork accessed by means of CRE Matrix, a realty knowledge analytics platform.
The transaction underscores the continued urge for food amongst giant healthcare operators for strategic hospital property in key city centres, significantly Mumbai, the place the supply of huge operational healthcare services stays restricted amid rising demand for tertiary care infrastructure.
Healthcare and hospital-focused actual property transactions have gained momentum over the previous few years as main hospital chains look to strengthen their presence in high-density metropolitan markets by means of acquisitions and long-term growth methods.
Manipal Health Enterprises, previously generally known as Manipal Health Enterprises Pvt Ltd, has been increasing its footprint throughout main Indian cities by means of a mixture of acquisitions, brownfield expansions and operational scaling of current services.
Manipal Hospitals, amongst India’s largest healthcare suppliers, expanded its nationwide footprint following the acquisitions of AMRI Hospitals in September 2023 and Medica in April 2024. The mixed community now operates 37 hospitals throughout 19 cities with a capability of greater than 10,500 beds, serving over 7 million sufferers yearly.
ET’s e-mail question to Manipal Health Enterprises remained unanswered.
Mumbai has emerged as a key market for healthcare operators amid rising demand for specialised remedy services, medical tourism and built-in healthcare campuses. The town has additionally witnessed rising investor curiosity in healthcare-linked actual property property, pushed by steady occupancy ranges and long-term progress prospects for organised hospital operators.
The newest acquisition provides to a collection of large-value institutional and healthcare property transactions recorded in Mumbai over the previous yr, reflecting sustained demand for operational property throughout sectors regardless of elevated property values in the nation’s industrial capital.
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