REAL estate developer AppleOne Properties Inc. said it will pour more investments in the health care industry on the back of the country’s serious battle against the coronavirus pandemic.
The company is eyeing to acquire a third health care facility.
“As of this time, we are focusing on health care, and developing the health care of tomorrow, as the need for financial and operational support is critical for this industry,” said AppleOne president and chief executive officer Ray Manigsaca.
AppleOne Properties, known for its investments in tourism, and the residential and office space business, recently ventured into the health care business.
Through its health care arm AppleOne Medical Group (AMG), AppleOne has signed a joint venture with the United Church of Christ in the Philippines to acquire majority shares of two hospitals, the Visayas Community Medical Center (VCMC) in Cebu City and the United Shalom Medical Center in Tacloban City in 2020.
“We are developing an integrated medical complex VisayasMed City Center, which will house VCMC hospital and the AppleOne Medical Arts Building, located in the heart of Cebu City, with the learnings we’ve garnered from this pandemic. We are also continuing our negotiations for acquiring another hospital, the third one, after the two hospitals we acquired early in 2020,” he said.
Meanwhile, the coronavirus pandemic has stalled the plans of AppleOne to open its Sheraton Cebu Mactan Resort in 2020. It hopes to reopen the luxury resort this year.
“The hotel business expansion plans we merely delayed for a year, but we predict that the tourism industry will soon recover as we are witnessing people eager to travel and explore the country. They are just waiting for the right time or once it is deemed safe again to travel. Domestic travel is indeed picking up. It will be the first to bounce back, and Cebu will be a priority destination,” said Manigsaca.
But even during the pandemic, AppleOne has already boosted its investments in tourism. It acquired Club Serena Resort in Moalboal town located in the south of Cebu, mirroring the company’s confidence in the country’s early tourism rebound.
Manigsaca said they are “confident that the charm and exclusivity of luxury boutique resorts/hotels will easily adjust to the new normal and be able to provide the privacy, safety and premier experience that travelers need at this time.”
Since the easing of quarantine restrictions in Cebu Province, many have gone to the countryside to breathe fresher air, recharge and relax after being locked up in their homes for months. (KOC)