Century Properties pre-sells 84% of clinic spaces in medical arts building

Listed real estate firm Century Properties Group, Inc. reports that 84 percent of clinic spaces in its medical arts building project in Makati City have already been pre-sold. Centuria Medical Makati, which is set to be completed in 2014, is a P2.1-billion, 28-storey outpatient medical facility within the vertical mixed-use development Century City on Kalayaan Avenue. With its seventh floor now under construction, Centuria will house 553 doctors' clinics and special facilities including a day surgery center, a radiology center, a diagnostic laboratory, digital imaging equipment, a pharmacy, recovery suites, and an ambulance transfer service. With an eye on the booming medical tourism business, it will also have a travel desk and concierge services for flight arrangements and hotel bookings to allow foreign patients to extend their stay in the Philippines. Century entered into a technical partnership with GE Healthcare in 2010 to ensure that the building specifications and design are in line with international standards. In 2010, the Philippines posted $25.3-million in revenues for the health and wellness industry, 60 percent of which came from foreign visitors. Medical procedures in the Philippines can be 40 to 80 percent cheaper than in the US. — BM, GMA News