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Century Properties says clinic space in upcoming medical center 84 pct sold

MANILA – Century Properties Group Inc reported brisk take up of its medical building project in Makati City, as the company seeks to become an active player in the country’s growing health tourism industry.

The property firm of Executive Chairman of the Board Jose E.B. Antonio is developing Centuria Medical Makati, a 28-storey outpatient facility at Century City along Kalayaan Avenue that is envisioned to become a one-stop destination for people with outpatient requirements.

Construction at Centuria has reached the seventh floor and is on track for completion next year.

In a statement, Century Properties said 84 percent of Centuria’s clinic spaces have been pre-sold. Clinic sizes range from 27-187 square meters, with an average price of P160,000 per square meter.

“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 Antonio.

The 26-year old property developer has established three medical arts projects. They are the Medical Plaza Makati, Medical Plaza Ortigas and the medical arts facility of the Asian Hospital in Alabang.

“Tourism is considered one of the pillars of our country’s economic growth. 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. We know for a fact that similar outpatient medical facilities abroad are extremely doing well and we will bring the best practice to Centuria,” Antonio said.

In 2010, the Philippines’ health and wellness industry earned $25.3-million in revenues, 60 percent of which was derived from foreign clients. Medical procedures in the Philippines can be 40-80 percent cheaper than in US hospitals.

Antonio said Centuria will house 553 clinics for doctors specializing in various practices. It will also offer special facilities within the building: the Day Surgery Center, radiology center, diagnostic laboratory, digital imaging, pharmacy, recovery suites, and an ambulance transfer service.

To foreign patients who wish to extend their stay in the Philippines, Centuria will have a travel desk and concierge services for flight arrangements and hotel bookings.

In 2010, Century Properties entered into a technical partnership with GE Healthcare to ensure that the building specifications and design are in line with international standards for an outpatient healthcare facility.

Its health venture comes alongside Century Properties’ efforts to facilitate client payments. Also on Thursday, the company told the local bourse that it tapped I-Remit Inc to improve collections from property buyers based abroad.

The property developer inked a memorandum of agreement with I-Remit, authorizing the country’s largest Filipino-owned non-bank money transfer company to act as the real еstatе payment collection and remittance agent of the property developer for its clients outside the country, such as OFWs, immigrants and other nationalities.

“Neither party has an obligation to market, promote or endorse the other party’s products and services,” Century Properties said.

I-Remit is present in 27 countries and territories in Asia Pacific, Middle East, Europe and Canada.

Source: Interaksyon | February 21, 2013


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