In other countries, communities have healthcare facilities that are readily accessible to their residents.
The aging population and the growing middle class are the two most powerful sectors to watch out for in the next few years.
Thus said Prof. Enrique Soriano III, executive director of W+B Advisory during the first Inquirer Property forum, titled “State of Real Estate: A Clear Vision for 2020,” held at the Manila Polo Club in Makati.
While the office, industrial, retail and residential markets will remain to be the property industry’s main sectors, a growing middle class as well as an aging population is seen to lead to the emergence of significant real estate subsectors. Developers might as well tap into projects which offer affordable housing, and medical, healthcare or retirement facilities.
According to Soriano, “the global population will age at an unprecedented pace. The number of people aged 60 or older will increase by 2.8 percent per annum from 2025 to 2030.” This, in turn, is said to make the cost of retirement and healthcare such critical issues.
Free-standing clinics
It does not come as a surprise that health service providers have been setting up shop in office, residential developments, and even commercial spaces. Health maintenance organization Medicard Philippines, for instance, has been establishing free-standing clinics in various townships and mixed use developments throughout the country in an effort to make affordable and quality healthcare readily available to those who will require it.
Medicard has established free-standing clinics in various townships and mixed use developments
In line with its mission to provide Filipinos with a comprehensive healthcare program, Medicard’s growing number of free-standing and satellite clinics offered a wide range of outpatient medical services.
With both the middle market and aging population growing exponentially, Soriano is urging developers to use the many opportunities available to their gain. “As mentioned, it’s our country’s emerging market, therefore it’s an investible market.”
“Developers will need to become more innovative about how they use space,” challenged Soriano.