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.
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.
Katlene O. Cacho
The Sun Star Cebu
Business & Investment Opportunities
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