By Neil
Jerome C. Morales (The Philippine Star) | Updated February 22, 2013 - 12:00am
MANILA,
Philippines - Real estate firm Century Properties Group Inc. aims to be a major
player in the government’s push to develop the country’s medical tourism
industry.
The property
firm said it is on track to completing the construction of the 28-story
Centuria Medical Makati in 2014.
“The
P2.1-billion project is positioned to attract local residents and most
especially medical travelers, who are looking for quality treatment in a
world-class facility that can offer huge cost savings, as compared to costs of
medical treatment in their own countries,” said Century Properties chairman
Jose E.B. Antonio.
The
outpatient medical facility will serve as a platform to support the Philippine
government’s thrust to offer world-class medical services to foreign patients,
Antonio said.
It will house
553 clinics for doctors specializing in various medical practices. Centuria
will offer also offer a day surgery center, radiology center, diagnostic
laboratory, digital imaging, pharmacy, recovery suites, and an ambulance
transfer service.
To date, 84
percent of Centuria’s clinic spaces have been pre-sold. Clinic sizes range from
27 square meters to 187 sqm, with a current average price of P160,000 per
square meter.
“With the
added push from the tourism and health departments of our government, Century
Properties is very optimistic about the prospects of medical tourism in the
Philippines,” Antonio said.
In 2010, the
Philippines posted $25.3 million in revenues from the health and wellness
industry, 60 percent of which came from foreign visitors.
Medical
procedures in the Philippines can be 40-80 percent cheaper compared to US
hospitals, Century Properties said.
Century
Properties partners with General Electric Healthcare, which will provide the
equipment, technology and software for the facility.
Last year,
the company recorded P21.4 billion in pre-sales, up 16.6 percent from P18.4
billion a year ago and exceeding its P20-billion forecast.
In the nine
months to September last year, the listed property firm booked a net income of
P1.4 billion, surging 95 percent from P723 million a year ago. Revenues, driven
by strong sales performance of its property developments, more than doubled to
P7.2 billion from P3.5 billion.
With 26 years
in the business of real estate development, marketing and property management,
Century Properties has completed 21 condominium buildings (5,560 units) with a
total gross floor area of 669,857 sqm and is currently managing 50 properties
as of end-2012.
It is the
company behind the Gramercy Residences, Azure Urban Resort Residences, Trump
Tower, the Milano Residences, Acqua Iguazu yoo inspired by Starck and Centuria
Medical Makati.
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