Medical Suites – A Choice Commercial Property Investment

I had the opportunity to view the latest addition to the Novena medical hub yesterday –Novena Specialist Center. Having handled the purchase and mortgage of over 50 medical suites during my time as a real estate lawyer, this class of commercial property will always hold a special place in my heart, but I think there are many more relevant factors that make them a great investment buy.

Artist Impression of Novena Specialist Center

Medical Tourism

According to the Healthcare Services Group of the Economic Review Committee, there could well be one million medical tourists to have visited our shores by the close of 2012. Although the strengthening Singapore dollar has made her somewhat less attractive to neighbouring countries like Malaysia, Indonesia, and Thailand, I believe that those who can afford it would still prefer to have surgical procedures done in Singapore. Health is not something most would want to stint on, particularly higher-end procedures. Thus while the numbers of patients visiting may be lower than some neighbouring countries, the actual revenue generated is comparable.

In the World Health Organisation’s last report on international health systems, Singapore was ranked sixth out of 191, and the only Asian country besides Japan to garner a spot in the Top 10. Supporting infrastructure such our airport, roads, biomedical research facilities, hotels and tourism spots also add to Singapore’s allure as a medical tourist destination.

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