LISTED property developer Century Properties Group, Inc. (CPG:PM) said on Wednesday it has started the turnover of units at its $100 million outpatient medical-IT facility, Centuria Medical Makati, which is targeted to open in 2015.
Century said the project’s recent completion is in line with its thrust of building its commercial leasing portfolio and diversifying its recurring income revenue streams.
The 28-story medical facility at Century City along Kalayaan Avenue, Makati has close to 700 clinics and office suites that will accommodate doctors of various outpatient medical practices. Centuria also has 18 commercial spaces for dining, wellness and pharmacy outlets.
Support facilities include a diagnostic laboratory to be operated by Hi-Precision Diagnostics, a hospital-grade Day Surgery Center and Recovery Suites.
Centuria’s opening is targeted in 2015 after doctors and tenants complete unit fit outs. The building will be equipped with IT capabilities for the convenience of doctors and patients, as well as a trained medical concierge staff for locals and medical tourists.
“We are in the midst of a tremendous growth opportunity for health care and medical tourism. Centuria will address the need for facilities that will take these sunrise industries to the next level in the Philippines,” said Century Properties chairman Jose E.B. Antonio.
“This medical facility is also an important component to our strategy of having a complete, integrated community at Century City, where you just don’t have offices, high rise residences and a retail mall but also a modern outpatient healthcare facility,” he added.
Launched in 2010, Centuria is the second project to be completed by Century Properties in 2014 under its growing recurring income portfolio. In March 2014, the company opened the 50,000-square meter Century City Mall, right in front of Centuria, with about 110 retail tenants, including four cinemas and a Rustan’s Supermarket.
Source: The Manila Times | December 10, 2014