The Chinese University of Hong Kong has obtained HK$1.3 billion (US$167.74 million) from the Jockey Club to help build the first private general hospital managed by the university.
It is the biggest donation the university has ever received, and the biggest donation the Jockey Club has made for a single project in 130 years.
The hospital, which will cost HK$6.3 billion, is expected to be completed in 2019. It will have 600 beds and target middle-class patients. Package charges will cover about 70 percent of the medical services.
It will be located at a site opposite the Sha Tin MTR station and will have a gross floor area of 78,000 square meters, the Hong Kong Economic Times reported on Friday.
The university, being the sole owner, will be responsible for hospital’s entire operation, including its finances.
Despite the Jockey Club’s generous grant and donations from individuals, the university still needs funding for two-thirds of the construction cost, CUHK vice-chancellor Joseph Sung said.
The university may use its reserves that have no specific purpose, or borrow money from the government. But officials are confident the university will be able to gather enough funds for the construction, he said.
“The construction fee in Hong Kong increases by more than 10 percent every year. We haven’t reached HK$6.3 billion yet, and we are still making efforts to get the financing,” Sung said.
“We hope the hospital can start the construction as soon as possible, and can be completed three years after the start of the building project,” he added.
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