China property developers diversify into health care

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.