SINGAPORE (Oct 19): Perennial Real Estate Holdings can expect a strong recurring income stream if an anchor lease agreement with IHH Healthcare and a China partner goes through as expected with the construction of a 350-bed hospital on the land, CIMB says in a note.

The bank notes that the China-based hospital should be completed in the second quarter of 2016.

The lease gives Perennial a partnership with IHH, which CIMB says is a high-quality player that could attract other complementary healthcare services, a possible catalyst for further income.

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