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China property developers diversify into health care

Most are making a gradual transformation but some have retreated completely from real estate

Beijing

CHINESE real estate developers have begun chasing what they see as the country's next big business opportunity - the healthcare market. As the world's second largest economy expands at its slowest pace since 1990 and rising land costs curb profit margins, many debt-ridden developers are tapping health care as a lucrative alternative.

At least 15 of China's 133 listed developers have diversified into areas such as hospitals, senior homes and even plastic surgery facilities, company statements show.

Most companies are making a gradual transformation, while some have retreated completely from property development.

Last month, a former industrial developer changed its name to Winsan Shanghai...

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