Manila, Philippines - As one of the highlights of its 25th year in the real estate industry, leading firm Century Properties broke ground for the $100-million medical-IT building that it is developing in partnership with GE Philippines Inc. at Century City in Kalayaan Avenue, Makati.
The project called Centuria Medical Makati is envisioned to be a world-class outpatient medical arts building for both local patients and medical travelers. With 28 floors and more than 500 clinic spaces, Centuria will use the latest technology and equipment that will enable doctors to practice their disciplines with great ease, as well as provide fast and convenient services to patients.
The building will comprise doctors’ clinics specializing in different disciplines of medicine; floors devoted to diagnostic equipment and services; rooms for aesthetic procedures; recovery suites; cafes and restaurants; a VIP lift, and units for other service providers in health, wellness and preventive medicine.
Present at the groundbreaking rites were Century Properties officials led by its CEO and chairman Jose E.B. Antonio together with Nilo Cruz, country manager for GE Healthcare Philippines and GE Energy country executive John Alcordo. Guests of Honor were Makati Mayor Jejomar Erwin “Jun-jun” Binay, Health Secretary Enrique Ona, Trade and Industry Secretary Gregory Domingo and director Elizabeth Nelle of the Department of Tourism (DOT). Also present were Monico Jacob and Washington Z. SyCip, independent members of Century Properties’ board of directors.
“It is a privilege to work with GE Healthcare for this project, and to get the support of our local government, the DOH, the DTI and the DOT, in the interest of promoting the Philippines as a top medical tourism destination with globally competitive standards for outpatient medical services. With the right venue, the right technology and systems, doctors may now put up clinics and provide the best care possible for patients the world over,” Antonio said.
Medical tourism is a rapidly growing industry in Singapore, Thailand, Malaysia and India. The Philippines is fast catching up with a $25.3-million revenue posted in 2010, with foreigners contributing 60 percent of the revenues. In the same year, the health and wellness industry hit a record of US$ 2 trillion. Research also shows that the Philippines has an even bigger potential in attracting medical tourists because of its culture of hospitality, quality healthcare services, competent medical practitioners, and cheaper medical treatments of as low as 70% as compared to other Asian countries.
The partnership of Century Properties and General Electric-the fifth largest company in the US with revenues of $183 billion, through its subsidiary GE Healthcare, a $17-billion unit of the General Electric company and a leading global provider of healthcare information and medical technology-was marked by the signing of a memorandum of understanding (MOU) on September 23, 2010 at the Sofitel Hotel in New York City. Present at the signing were GE Technology Infrastructure vice chairman and CEO John Rice and GE vice president and senior counsel Karan Bhatia with Antonio.
Also present were President Benigno Aquino III, Finance Secretary Cesar Purisima and Energy Secretary Jose Rene Almendras. The signing took place during President Aquino’s trip to the US to attend the United Nations General Assembly and Philippine roadshow for business to attract foreign investors to the Philippines.