Nexgram Holdings Bhd will develop a medical complex in Melaka with an estimated gross development value of RM1.6 billion.
The medical complex, called Melaka Lifecare Specialist, is a mixed-development comprising small office home office (SoHo) units, commercial, a hospital building, a wellness centre, and a bioscience research centre.
It will also consist of retirement and medical tourism centre, a three-star hotel, a condotel, and a recreation park.
Nexgram said its indirect subsidiary Nexgram Biomedic Sdn Bhd had signed an understanding with Perbadanan Kemajuan Negeri Melaka (PKNM) at its 50th-anniversary celebration to acquire 24.8 acres of land in Melaka Tengah for the project.
In a filing with Bursa Malaysia today, the ACE-market listed company said that this is a public-private cooperation initiative.
The company said that this initiative is in line with the government's push for technology-based investments to raise the knowledge and digital economic capability and capacity level of Malaysians.
"Melaka is well poised for this with its excellent economy and social growth dynamics. This super specialty medical complex is expected to serve the healthcare needs of the wider Asian region," it said.
Nexgram expects the project to contribute positively to Melaka's economic gross domestic product, employment, and social welfare within the next five to 10 years.
Nexgram Biomedic is a biotechnology firm dedicated to developing new
medical devices, drugs, and technologies in support of innovations in the healthcare field.
The group's subsidiaries specialise in medical devices; VaccinesLab which conducts clinical trial and vaccine distribution; and Covid-19 screening test and vaccine record tracking app.