IHH Healthcare Bhd has broken ground on the US$70 million, 250-bed Parkway Yangon hospital in Yangon, Myanmar.

The hospital project is 52 per cent owned by IHH's wholly owned subsidiary Parkway Healthcare Indo-China, and will be the first in Yangon for Parkway. Myanmar-incorporated AMMK Medicare Co holds 21.5 per cent; Myanmar-based Global Star Company 16 per cent; and Singapore-incorporated Macondray Holdings holds the remaining 10.5 per cent.

The hospital in downtown Yangon sits on 4.3 acres of land leased for 50 years with options for two 10-year extensions.

The hospital is expected to open in 2020, said IHH managing director and chief executive officer Tan See Leng.