[NEWS] A Philippine Real Estate Firm Eyes Cebu as a Perfect Place to Build Business Infrastructures

A Philippine real estate in cooperation with an international partner plans to build a retirement village and a hospital facility in Northern Cebu.

Recently, Everjust Realty Development Corp., and an international partner held a meeting regarding their agreement about management and operations of the said projects. Thus, facilities can adopt international standards and at the same time can achieve an international accreditation.

In a new report, the firm’s president is considering 5 years for the construction of the projects.

According to the Everjust Realty President, Justin Uy, the 10-hectare retirement village is set to be built in Consolacion while the Hospital facility is set to be constructed in Mandaue. Both infrastructures will be located in Cebu.

Uy further said that the development of the said retirement village and hospital facility in Cebu is meant to push the firm’s expansion into the tourism industry

Cebu is a perfect domicile for retirees. Retirees can easily get attracted to such places where they become close to natural wonders as well as urban conveniences. In fact, Cebu can be directly compared to Hawaiian Islands like Honolulu and Maui.

Also, the Philippine Retirement Authority (PRA) attested that Cebu is one of the most preferred places for retirement outside the Philippine’s capital city.

Moreover, aside from the said Philippine Real Estate firm, the Philippine economy can also earn a great profit from the said projects. A study from a health care business intelligence firm, Healthcore revealed that from 2006 to 2010, Philippines earned about $1.30 billion in healthcare and wellness services from foreign tourist and overseas Filipino works (OFW) or the “Balikbayans”. In a speculation, Philippines has the capability to profit as much as $1 billion to $3 billion each year by 2018 if it would pursue investing on health care infrastructure and offer more extensive travel arrangements for medical tourist.

The said study also previewed that the Philippines can have a chance of getting a larger market share in the global medical tourism industry if further similar projects will come out in the country like a raging trend.

This will be a multi – purpose project which will benefit not only the said Philippine real estate firm but also the Philippine economy. It would definitely be a plus factor for the Philippines considering that the country was finally recognized as one of the booming players in the multi-billion dollar industry.