Sunday, February 19, 2012
REAL estate firm Everjust Realty Development Corp. is in discussion with an international partner for a retirement village and hospital facility it plans to put up northern Cebu.
In a recent interview, Everjust Realty president Justin Uy said the company is considering a five-year plan for the construction of a retirement village in Consolacion and a hospital in Mandaue.
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The construction of the projects will be done simultaneously.
Uy said they will be meeting with an international partner this week to talk about management and operations of the hospital so that the facility can adopt international standards and get international accreditation.
He said the hospital will cater to the heath care needs of residents living in his retirement village, which will be built on a 10-hectare property in Consolacion.
Uy, who also owns Profood International Corp., the largest manufacturer and exporter of processed food, recently ventured into the real estate business with the opening of J. Center Mall on A.S. Fortuna St.
The company also ventured into Cebu’s booming tourism industry with its majority acquisition of the Imperial Palace Waterpark and Spa in Mactan and the opening of a Profood Gallery inside its manufacturing plant.
Uy said the development of the retirement village and hospital is meant to boost the company’s expansion into the tourism industry by tapping retirees and medical tourists.
In a study conducted by healthcare business intelligence firm Healthcore, the country earned an estimate $1.30 billion in health care and wellness services in 2006 to 2010 from overseas foreign tourists and balikbayans.
Projection
The study projected that the Philippines has the potential to earn as much as $1 billion to $3 billion yearly by 2018 if it would invest aggressively on healthcare infrastructure, offer more open and liberal travel arrange¬ments for medical tourists and lay down an extensive international marketing promotions cam¬paign.
The study also said the country has the potential to grab a larger market share in the global medical tourism industry based on inherent advantages such as high level quality and competitive costs in healthcare services; large supply of competent healthcare professionals, excellent communications skills; and its proximity to countries like Guam, Micronesia, Australia, Japan, South Korea and Taiwan, which have high costs of medical services.
International research firm Deloitte also identified the Philippines as one of the emerging players in the multi-billion dollar industry, which is currently dominated in Asia by Singapore, Malaysia and Thailand.
As for the retirement market, Cebu is reported to be well-positioned to attract foreign retirees.
The Philippine Retirement Authority said that outside the National Capital Region, the preferred places for retirement in the Philippines are Baguio, Subic and Clark in Pampanga, Davao and Cebu.
“Similar to popular Hawaiian islands such as Honolulu and Maui, Cebu boasts of both natural wonders and urban conveniences, which are very appealing to retirees,” said PRA general manager Veredigno Atienza. To learn more about our future project, pls contact us at 0917.3236123.
Published in the Sun.Star Cebu newspaper on February 20, 2012.
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