mr funny
31-08-10, 20:38
http://www.businesstimes.com.sg/sub/news/story/0,4574,401822,00.html?
Published August 31, 2010
Far East launches Novena Specialist Center
By UMA SHANKARI
FAR East Organization yesterday released for lease 31 out of the 69 medical suites at its upcoming Novena Specialist Center. Ranging in size from 549 to 1,442 square feet, they will be rented out for $8-9 per sq ft (psf).
Novena Specialist Center is part of a $350 million hotel and commercial complex the developer is building. Besides the 69 suites, the project will also house a 428-room Oasia Hotel.
Far East is upbeat on the prospects of Novena Specialist Center, which will be ready by January 2011.
The centre is next to Far East's existing Novena Medical Center, which was completed in 2007. That development has 145 suites. So far, 100 medical suites have been sold, while another 35 have been let for $8.50-10.50 psf.
'With the increasing number of international patients coming to Singapore for treatment and check-ups and a growing local population, demand for medical services will increase. This translates to a rising need for medical suites,' said Far East's executive director GL Yap.
The number of medical tourists coming to Singapore has climbed from about 200,000 in 2003 to 646,000 in 2008. But the supply of purpose-built medical suites has not kept up with demand, Mr Yap said.
'Occupancy at these facilities has stayed at near-full level since 2004,' he said. 'And leasing rates have doubled across the board now. This shows there is still pressure to satisfy this need and increase Singapore's medical services capacity to serve demand from the region and the resident population.'
Mr Yap said the Novena medical cluster has attracted a lot of interest from groups that plan to expand their networks of clinics and doctors who intend to set up their own private practice.
The area is home to Tan Tock Seng Hospital, Johns Hopkins Singapore International Medical Centre, KK Women's and Children's Hospital, Thomson Medical Center, the National Neuroscience Institute, and the future Parkway Novena Hospital.
Published August 31, 2010
Far East launches Novena Specialist Center
By UMA SHANKARI
FAR East Organization yesterday released for lease 31 out of the 69 medical suites at its upcoming Novena Specialist Center. Ranging in size from 549 to 1,442 square feet, they will be rented out for $8-9 per sq ft (psf).
Novena Specialist Center is part of a $350 million hotel and commercial complex the developer is building. Besides the 69 suites, the project will also house a 428-room Oasia Hotel.
Far East is upbeat on the prospects of Novena Specialist Center, which will be ready by January 2011.
The centre is next to Far East's existing Novena Medical Center, which was completed in 2007. That development has 145 suites. So far, 100 medical suites have been sold, while another 35 have been let for $8.50-10.50 psf.
'With the increasing number of international patients coming to Singapore for treatment and check-ups and a growing local population, demand for medical services will increase. This translates to a rising need for medical suites,' said Far East's executive director GL Yap.
The number of medical tourists coming to Singapore has climbed from about 200,000 in 2003 to 646,000 in 2008. But the supply of purpose-built medical suites has not kept up with demand, Mr Yap said.
'Occupancy at these facilities has stayed at near-full level since 2004,' he said. 'And leasing rates have doubled across the board now. This shows there is still pressure to satisfy this need and increase Singapore's medical services capacity to serve demand from the region and the resident population.'
Mr Yap said the Novena medical cluster has attracted a lot of interest from groups that plan to expand their networks of clinics and doctors who intend to set up their own private practice.
The area is home to Tan Tock Seng Hospital, Johns Hopkins Singapore International Medical Centre, KK Women's and Children's Hospital, Thomson Medical Center, the National Neuroscience Institute, and the future Parkway Novena Hospital.