Boost to Phl healthcare

Exciting times for healthcare research.

Two powerhouse institutions, namely, Philab Industries and the University of the Philippines’ National Institutes of Health (UP-NIH) have entered into a partnership in a bid to help promote researches that will improve the quality of life of Filipinos and to nurture the best talents from the academe and best practices from the healthcare industry.

Philab and NIH have signed a partnership to put up an 18-story building that will house the 10 health institutes of the academe. These are the Institute of Molecular Biology and Biotechnology (IMBB), Institute of Child Health and Human Development (ICHHD), Institute of Clinical Epidemiology (ICE), Institute of Health Policy and Development Studies (IHPDS), Institute of Herbal Medicine (IHM), Institute of Ophthalmology (IO), Institute of Pharmaceutical Sciences (IPS), Philippine National Ear Institute (PNEI), Institute of Aging (IA), and Institute of Human Genetics (IHG).

The structure, which includes specialized laboratories and research rooms, will cost P1.6 billion. Construction began last July 28.

Both institutions believe that more than cure, diagnosis is key to living a long and healthy life.

Since 2012, Philab, with its genomics investments via Genomics Inc., hopes to improve the diagnosis system in the country while UP, with its experts, vows to conduct thorough research on diseases that continue to plague the country-especially in the rural areas.

With this partnership, the Filipinos can expect breakthrough findings in the fields of biotechnology, epidemiology, medicine, and genetics.

The NIH is the specialized research arm of UP Manila, the health sciences center of the UP system.

The institute was established to provide support to the national government to improve the health care system in the Philippines by enhancing the country’s capability research and development.

UP-NIH is envisioned to accelerate health sciences research in the Philippines and is currently headed by Dr. Eva Maria Cutiongco-de la Paz, the vice chancellor for research.

NIH’s goals include influencing policy makers in the creation of health laws, policies and guidelines which improve delivery of quality health programs; providing health organizations with relevant health information and development updates and improve their health service delivery; contributing to the development of medical knowledge and improve the practices of health care professionals; developing the proficiencies of health researchers and health research institutions; promoting the health awareness and improve the health-seeking behavior of the Filipino people; spearheading the research on essential national health issues and concerns; leading in the formulation of national health research agenda; and becoming a recognized authority in health research and development.

Meanwhile, Philab Industries, a pioneer in the healthcare business in the Philippines, is expanding to healthcare science and technology by bringing in the most advanced diagnostic tools to the country.

According to Philab chief executive officer  Hector “Tom” Navasero, they aim to revolutionize the healthcare system in the country by providing both simple and sopisticated solutions to the Filipinos.

With more than 50 years of experience, Philab remains one of the most reliable and profitable corporations in its industry. According to company reports, as of the first quarter of 2016, the company has already been awarded an initial total of – 3.19 billion in new contracts by the Departments of Education and Health.

Philab has also supported the healthcare science academe by funding research and research facilities in the country.

Recently, Navasero bought 67 percent of Alterra Capital for P362.3 million, covering 208 million shares.

Property market update

Colliers International’s second quarter property market report has shown continuing good times for the office property market, where high occupany levels have been sustained by the business process outsourcing (BPO) industry. And there are no signs of letting down, the report said.

According to the same report, an estimated 75,000 square meters of new office net usable area was completed in the second quarter of 2016, bringing Metro Manila’s office stock to around 7.7 million sq.m. It said the Makati central business district’s office market remains tight due to the lack of new supply, while vacancies in Fort Bonifacio should remain lower over the next 12 months due to sustained demand from outsourcing firms which tempers the significant amount of additional office space being completed in the area.

Meanwhile, construction delays due to lack of skilled labor will continue to affect new supply to be delivered for all sectors, the report said. In fact, six residential projects were slated for delivery in the second quarter but only one was completed, with acute lack of skilled labor in construction cited as a reason. Residential condominiums in the core areas will continue to experience rising vacancies amidst a deluge of new supply in the fringe areas while delays in office completions will lead to even lower vacancies for office buildings, it added.

Colliers also expects rates for condos to continue to soften because of the new supply coming up. It said that while office demand is strong, all-time highs in office construction will prevent sharp increases in rental rates.

Meanwhile, open market housing posted a 70 percent growth while licenses applied for under the mid-income and economic housing segments grew 60 percent and 18 percent, respectively.

As for land values, Colliers revealed that Makati CBD land values rose 4.2 percent in the second quarter, while those in Fort Bonifacio went up 3.6 percent Colliers expects land values in major business districts to increase between 13 percent and 17 percent over the next 12 months due to the lack of available land assets coupled by growing investor interest.

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