Chinese University's HK$6.3 billion private teaching hospital will be the first of its kind to offer transparent and affordable pricing to the city's middle class.
The hospital, with a gross floor area of 78,000 square metres, will be located near the University MTR station in Fanling and expected to be completed by 2018.
Providing around 600 beds, it is expected to treat around 250,000 people annually.
"Our idea is to develop a not-for-profit hospital of our own," said university president Professor Joseph Sung Jao-yiu, announcing the project yesterday.
"We aim to bridge the gap between the private and public health-care sectors and meet the needs of Hong Kong people."
Sung said the hospital would be the first in the private sector to offer "straightforward package pricing", specifying the costs of related medical services so patients could be better informed of their actual expenses before receiving treatment.
This would be especially helpful to the city's middle class, for whom private hospitals are too expensive but who would like an alternative to overcrowded, overburdened public facilities.
The hospital is expected to provide a range of medical services, such as a 24-hour clinic, an ambulatory surgery and urology centre, a cardiac intervention centre, an endoscopy centre, radiology facilities and an elderly day care centre.
Sung said the hospital would be wholly owned by the university and no commercial organisation would be involved.
The Jockey Club donated HK$1.3 billion to the project yesterday. It is the club's largest ever single donation to a medical project in Hong Kong, and the biggest the university has ever received.
The rest of the money will come from other donations, loans and the university's reserve of private funds.
The club also donated another HK$12 million for the university to set up the Jockey Club Institute of Ageing to conduct research and develop strategies on an ageing society.