Construction of a joint hospital project with an investment of 3 billion yuan ($440 million) began in Panyu district, Guangzhou on July 21.

The project was launched by Chinese property developer R&F Properties and top US medical establishment UCLA Health.

The ground-breaking ceremony for the hospital is held on July 21. [Photo/oeeee.com]

With a planned ground area of 40,000 square meters, the hospital aims to provide world-class medical service to the region by operating in accordance with the standards of the Joint Commission International (JCI).

It plans to set up five major medical centers and 17 departments including oncology, orthopedics surgery, cardio-surgery, cardiovascular surgery, gynecology, and pediatrics. The hospital will be operational in as soon as two years.

Richard Azar, chief operations officer (COO) of UCLA Health, delivers a speech at the ceremony. [Photo/oeeee.com]

On May 21, R&F Properties bid for the land use with a price of 529 million yuan. It's estimated that the company will invest 3 billion yuan in this project.

According to bid provisions, the land can only be used for building an international hospital with a minimum investment of 3 billion yuan. No less than one third of the investment must be put into medical equipment.