(May 26): It’s called "Asia’s top-notch plastic surgery hospital," according to the promotional brochure for the grand, Chinese palace-style building near the port of Tianjin.

With nearly 100 VIP suites and doctors from South Korea offering Chinese clients US$2,400 ($3,323) nose jobs and US$1,000 double-eyelid plasties, the cosmetic surgery palace is a gamble by one of China’s most indebted developers, China Evergrande Group: get into the health-care business as a new strategy to boost profit.

It’s a play that takes advantage of cheaper prices for land designated for health-care use, allowing developers to reap a premium for nearby residential towers that offer home buyers easy access to hospitals, clinics or nursing homes. Developers are also betting they’ll be able to rake in profits directly from soaring demand for medical services.

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